IMF Staff Country Reports

Italy: 2006 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Italy

Publication Date:

February 15, 2007

Electronic Access:

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Summary:

This 2006 Article IV Consultation highlights that Italy’s economy is enjoying a broad-based, if comparatively modest, cyclical upswing. Output is estimated to have grown by 1¾ percent in 2006—the strongest pace since the beginning of the decade. Inflation is close to that of the euro area, financial conditions are favorable, unemployment is falling, and the current account deficit is moderate. Some progress has been made on broad-based structural reform. Recent initiatives in labor contracting envision a partial rollback of earlier liberalizing reforms.

Series:

Country Report No. 2007/064

Subject:

Banking Budget planning and preparation Employment Expenditure Labor Pension reform Pension spending Public debt Public financial management (PFM)