OECD Says Israel Could Gain From Increased Competition

A new report by the OECD states that Israel is one of the countries that could gain the most from further liberalization and competition in its economy.

Among the countries with the most to gain from liberalizing market reforms, there are Turkey, Israel, Korea, Slovenia and Mexico.

Another area that would most benefit Israel would be increased public expenditure, which could help raise the standard of living in Israel more than 7% by 2060, the report said.

Israel’s public expenditure would also benefit from further liberalization and as a consequence, it could raise the standard of living in Israel more than 7% by 2060, The Times of Israel reports.

The OECD economic paper called “The Long View: Scenarios for the World Economy to 2060,” focuses on long-term scenarios in the global economy.

On the other hand, economic growth is expected to decelerate over the next four decades because of the slow growth in the large emerging market economies — Brazil, Russia, India, Indonesia, China and South Africa (BRIICS).