IMF Staff Country Reports

Italy : 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Author/Editor:

International Monetary Fund. European Dept.

Publication Date:

July 27, 2017

Electronic Access:

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

Summary:

The economy continues to recover, unemployment and nonperforming loans have declined somewhat from their crisis peaks, and public debt appears to be stabilizing. Growth remains moderate, however, despite exceptional monetary accommodation and fiscal easing, and Italy continues to underperform its euro area peers, owing to persistent structural weaknesses, imbalances, and financial fragilities. Thin policy buffers leave the economy exposed, including to the start of withdrawal of monetary accommodation. Meanwhile, real disposable incomes per capita have fallen below pre-euro accession levels and the distribution of the burden of adjustment has been uneven, potentially contributing to public discontent.

Series:

Country Report No. 17/237

Subject:

Article IV consultation reports Balance of payments statistics Debt sustainability analysis Economic growth Economic indicators Financial stability Fiscal consolidation Fiscal reforms Italy Pension reforms Press releases Staff reports