LatinNews Daily - 15 April 2021

In brief: OECD tells Brazil to halt deforestation

* The Organisation for Economic Co-operation and Development (OECD) has noted that Brazil needs to increase productivity, expand protection of those in need, and broaden economic opportunities for all if the country is to sustain strong growth, as it seeks to recover from the crisis caused by the coronavirus (Covid-19) pandemic. These points were made in the OECD’s ‘Going for Growth 2021’ report, which outlines that even prior to the Covid-19 crisis, Brazil’s GDP per capita and productivity were 73% lower than the OECD’s best performers and that inequality was higher than in most advanced economies. The OECD lists recommendations in five areas going forward: these are to “reduce distortions in the tax system”; “reduce barriers to competition and trade”; improve education and professional training; “increase the effectiveness of social benefits”; and a “new priority” in the environmental policy area, which is to “preserve natural assets and halt deforestation”. The OECD’s country note on Brazil also insists on the importance of pushing forward with structural economic reforms. 

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