The staff report for the 2011 Article IV Consultation concluded that a vibrant recovery marked Estonia’s first year in the euro area, albeit amid nascent tensions. The economy’s strong rebound has been grounded in a proven track record of prudent macroeconomic policies. Executive...

This Selected Issues paper for Ireland highlights that fiscal consolidation resulted in a tremendous reduction in public debt from nearly 100 percent of GDP in 1991 to about 30 percent in 2004. This has reflected a combination of policy decisions and economic circumstances. Excluding 2001, when...

This 2004 Article IV Consultation highlights that economic growth in Cyprus has begun to rebound following a more modest performance in 2002–03, recovering in real terms to about 3½ percent in 2004, mainly driven by an increase in domestic demand. Real per capita income has continued...

The Selected Issues paper on Finland underlies public finances and structural reform. The structural reforms encompassing labor and product markets as well the pension system would substantially improve the outlook for fiscal sustainability. Reductions in labor and product market inefficiencies...

This Selected Issues paper describes labor market trends in Belarus and the role of labor market institutions in the outcome. The paper examines the current status of the tax system in Belarus and assesses recent efforts to reform it. It argues that the current tax system in Belarus is...

Economic activity stagnated in the first half of 2003, but recent indicators point to a gradual recovery. On product markets, there was agreement that progress had been secured over recent years, but also that Italy continued to suffer from insufficient competition in a number of protected...