DOWNWARD TREND IN THE EVOLUTION OF GDP AND LABOUR FORCE IN OECD ECONOMIES
Emerging economies are at the forefront of the gradually GDP declining for OECD+G20 to 1.5% in 2060.
Ageing is the main factor for the overall decline in active population (15-74).
ONCE THE RECOVERY HAS TAKEN HOLD, THE WITHDRAWAL OF STIMULI AND THE RETURN TO BUDGETARY STABILITY WILL HAVE TO BE UNDERTAKEN IN A CONTEXT OF HIGH DEBT LEVELS AND DECLINING GROWTH.
Ageing and the rising relative prices of services will cause an increase in public debt in OECD countries
Between 2021-60, OECD governments should raise revenues by nearly 8% to maintain current public services and benefits while stabilizing debt.
In Spain, people retire 3.3 years earlier than expected, while in OECD people retire on average 0.8 years later.
A reform package combining labour market reforms with reducing early retirement pathways would decrease the fiscal burden in the median OECD country.