Comprehensive structural reforms are required to bring the global economy back to sustainable growth and to reduce unemployment, a report released by the Organization for Economic Cooperation and Development (OECD) area showed Friday.

In its latest "Going For Growth" study, the OECD encouraged governments to take action to boost productivity, enhance growth and strengthen their respective labor markets.

Though signs of a broad-based global recovery are becoming more tangible, advanced and emerging economies now face the risk of falling into a low-growth trap, the report said.

OECD Secretary-General Angel Gurría said Australia has made efforts to highlight the need for reforms, at the forthcoming meeting of G20 nations, to achieve stronger growth in world economies.

Many advanced economies need further reforms to tackle slowing productivity growth and persistently high unemployment.

At the same time, tightening monetary policy and cooling of the commodity boom are posing challenges to many emerging market economies, where comprehensive structural reform agendas are yet to be launched.

OECD observed that the intensity of reform has remained highest in southern euro area countries like Greece, Italy, Portugal and Spain, which are suffering from high long-term unemployment and youth joblessness.

RTTNews