IMF Staff Country Reports

Italy: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Publication Date:

July 26, 2023

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Output grew robustly in 2022 despite surging energy prices on the post-pandemic recovery and fiscal stimulus. Inflation jumped and the current account fell into deficit. Employment reached new highs. Fiscal support and higher borrowing costs kept deficits large and public debt very high. Bank credit has begun to decline although loan quality continues to hold up. Italy’s National Recovery and Resilience Plan (NRRP), supported by EU financial resources, aims to boost productivity and labor force participation, which would help offset the drag on growth from the declining working age population.

Series:

Country Report No. 2023/273

Subject:

Energy prices Financial institutions International organization Labor Loans Monetary policy Prices Public debt Tax allowances Taxes Wages

Frequency:

regular