The Organization for Economic Co-operation and Development (OECD) has called on Latin American governments to increase public spending efficiency and education to heal the wounds that the pandemic continues to inflict on the economy.
AZERTAC , according to the recommendations of the 46 countries of the OECD’s “Going for Growth 2021,” the annual report said.
The OECD believes that Argentina, Mexico, Colombia, Brazil, Chile and Costa Rica need to increase spending, education and employment opportunities to ensure a social protection network. Social security funds should be allocated to those in need.
The OECD has recommended improving the business environment for companies in Argentina in order to increase competitiveness and create quality jobs.
As the private sector is a necessary resource in Mexico, the OECD believes that the business climate in the country should also improve. The pandemic has led to rising poverty, deepening long-term social problems and gender inequality. Improving living standards will accelerate productivity growth by improving the business environment, including the fight against corruption and improving the skills of the population.
The report also noted the lack of qualifications of the economically active population in all Latin American countries. Governments need to invest in training and education programs that enhance the skills of their populations to take advantage of better employment opportunities.
In six countries in the region, as well as in the United States, the quality of education varies greatly depending on geography, ethnic groups, and income levels. According to OECD experts, the pandemic risks exacerbating existing inequalities between social, ethnic and racial groups.
Source: AZERTAC, Azerbaijan State News Agency