Assessment and Recommendations
I. Recent Trends and Prospects
-Demand and production slowed sharply in late 2000 and then began to fall last summer
-Near-term outlook and risks
II. Macroeconomic Policy
-Monetary policy
-Fiscal policy
III. Increasing Efficiency and Reducing Complexity in the Tax System
-An aggregate burden under control
-Improving the taxation of personal income
-Capital income taxation: a major area for reform
-Entrepreneurship: the gains from lower taxation
-Taxation of consumption
-Compliance and regulation
-Assessment of past changes and recommendations for action
IV. Structural Policy Developments
-Energy markets: a shock aggravated by policy
-Air transport: a lack of infrastructure and still too much bureaucracy
-Telecommunications: still seeking to boost competition
-Financial markets: cleaning up some loose ends
-Education policy: focusing on enchancing accountability and performance
-Disturbing trends in the agricultural sector
-Seeking to start a new trade round and mounting trade policy tensions