OECD: States must improve public finances

[28 November 2006 - Business World - Ireland] The OECD today called on euro zone countries to use the economic recovery to improve their public finances in the face of the cost burden of the ageing population. In its semiannual economic outlook, the OECD noted that public finances are benefiting from the upturn, but said member states must take further steps to balance their budgets and cut debt. 'Some of the improvement in public finances is clearly related to the cyclical recovery, although there has been some structural fiscal improvement by several euro area members, especially in the countries that recently were above the 3pc deficit limit,' it said. More