Italy: Staff Report for the 2000 Article IV Consultation

June 13, 2000

Summary

There is broad agreement on the appropriateness of the budget deficit target. The government aims to strengthen expenditure control and efficiency, at the national and at subnational levels, to achieve a reduction in the tax burden while cutting the fiscal deficit. The IMF staff suggested complementing new initiatives, aimed at strengthening growth prospects in the South, with strong labor market measures. Continued wage moderation, a reduction in the tax burden, and further product market reform and privatization will help secure an adequate level of competitiveness.

Subject: Employment, Expenditure, Labor, Labor costs, Labor markets, Public debt, Wages

Keywords: budget deficit, CR, deficit, deficit target, East Asia, Eastern Europe, Employment, euro, Europe, expenditure side, Global, government, ISCR, Labor costs, product market performance, reform program, staff advocate, staff baseline scenario simulation, Wages

Pages:
50
Volume:
2000
DOI:
https://doi.org/10.5089/9781451819724.002
Issue:
071
Series:
Country Report No. 2000/071
Stock No:
1ITAEA0012000
ISBN:
9781451819724
ISSN:
1934-7685

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Notes

Included with the Staff Report are the text of Public Information Notice No. 00/40 and a statement by Riccardo Faini on June 5, 2000.

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