The OECD Economics Department's twice-yearly set of projections for output, employment, prices and current balances covering the next two years, based on a review of each Member country and of the induced effect on each of them of international developments. Particular attention is paid to the policies that governments are adopting to solve present economic problems. Summary statistics and projections are included for developments in non-member countries, in particular in Central and Eastern Europe as well as in selected Asian and Latin American economies. This edition's special feature covers responses to inflation shocks.