Executive Summary
Chapter 1. Recent Performance and Key Challenges
-The GDP Revision and Growth Performance over the Last Decade
-Recent Macroeconomic Performance and Short-Term Prospects
-The Scope for Improving Labour Utilisation
-The Scope for Improving Productivity Performance
-Shrinking the Informal Economy
-Annex: Progress in Structural Reform
Chapter 2. The Gains from Fiscal Consolidation
-Recent Fiscal Developments
-The Government's Medium-Term Objectives
-Further Budget Consolidation Can Be Achieved on the Expenditure Side
-Improving Revenue Collection and the Tax Base
-The Costs of Delaying Fiscal Reform
-Annex: Reforming the Health Care System
-Annex: The Model Used to Generate Fiscal Simulations
Chapter 3. Pensions: A Comprehensive Reform is Urgently Required
-The Pension System is Highly Fragmented
-The Pension System is a Fiscal Time Bomb
-The Employment Rate of Older Workers Has Remained Low
-The Main Pension System for Employees (IKA) Provides Strong Incentives to Retire Early
-The Main Pension System for Self-Employed
-Poverty in Old Age is Relatively High
-There are Large Potential Gains to Labour Force Participation from Pension Reform
-Encouraging the Development of Private Pensions
-Annex: Pension Expenditure Projections
Chapter 4. Easing Entry into the Labour Market
-Recent Labour Market Performance
-Minimum Wages Hamper Entry into the Labour Market
-Strict Employment Legislation Impedes Labour Turnover
-More Active Labour Market Measures Can Also Help
-Annex: Measures of the Minimum Wage
Chapter 5. Improving Tertiary Education
-The Determinants of Tertiary Education Investment
-The University Reform Goes in the Right Direction, but is Too Modest
-The Benefits of Ambitious Reforms
-Summary and Conclusions
Chapter 6. Fostering Competition in Network Industries
-There is Much Scope for Improving Competition in the Network Industries
-Progress in Reforming and Privatising Public Enterprises
-Introducing More Competition in Network Industries
Glossary