A new OECD report unveiled at the OECD forum this week calls for “urgent and concerted effort” by governments in order to promote inclusive and sustainable economic growth.
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Launched Tuesday at the organization’s Paris headquarters, the three-day forum focuses on addressing issues of international cooperation, inclusiveness, and digitalization. Forum participants include government representatives and key international figures from academia and business.
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“It’s vital that countries progress in their efforts to transform economic growth into improved living standards for all,” said Tuesday OECD Chief of Staff and G20 Sherpa Gabriela Ramos, leader of the Inclusive Growth Initiative at the OECD. “OECD analysis shows that when policies targeting the most disadvantaged deliver, everyone in society sees gains in prosperity and well-being.”
In many OECD countries, the new report found, youth from poorer backgrounds have only an 18% chance of pursuing a career in the sciences. In many countries, 15-year-old children from poorer backgrounds are a year behind in academic performance compared to better off children.
The OECD concluded that ambitious reforms to address socio-economic gaps, while costly, would lead to stronger demand and creation of jobs, and overall to economic growth.