Finance & Economics | WPN World People News

Ms. Patricia Veevers-Carter discussing the benefits of the public employment program with one of the beneficiaries in Rumi district.

Tax burdens and revenue collection in advanced economies are reaching record levels not seen since before the global financial crisis, but the tax mix continues varying widely across countries, according to new OECD research published Wednesday.

Steady growth over the past decades has brought Turkey to the threshold of becoming a high-income economy; prosperity has been broadly shared across income groups in the society, and the size of the middle-class was doubled, according to a new World Bank report, Turkey’s Transitions: Integration, Inclusion, Institutions. However, challenges remain. The report examines Turkey’s experience in the transition from a lower middle-income to an upper middle-income economy, and looks at what has worked well and what needs to change.

The British government says it will force multi-national companies such as Google to pay more in tax.

World Bank Growth Spectrum for 2015 and 2016.

Reducing income inequality would boost economic growth, according to new OECD analysis. This work finds that countries where income inequality is decreasing grow faster than those with rising inequality.

Yemen has made significant progress in advancing the political transition, but in the absence of robust economic growth and job creation many families are still struggling to make ends meet. The World Bank Group’s Board of Executive Directors Tuesday approved an emergency grant of US$90million to reinforce the Yemeni government program designed to protect the most vulnerable segment of the population.

Stable growth momentum in the OECD area

Due to weaker investment growth and sluggish exports, Indonesia’s economy is projected to grow by 5.2 percent in 2015, lower than the 5.6 percent previously forecasted in July 2014, says a new World Bank report.