Italy : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Author/Editor:

International Monetary Fund. European Dept.

Publication Date:

February 6, 2019

Electronic Access:

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

Summary:

A new government took office in June 2018 on a platform to improve growth and social outcomes. It has inherited a challenging situation—notwithstanding the recovery of the past few years, real incomes remain at the levels of two decades ago, unemployment is elevated, poverty has risen, and public debt is very high. Its policies center on a sizable fiscal stimulus, with plans to assist the poor, raise public investment and partially reverse pension reforms, among others. But this has increased debt sustainability concerns. In recent months, sovereign spreads vis-à-vis German bunds have jumped to multi-year highs while bank valuations have shrunk by about one third. Italy and the European Commission (EC) are discussing potential revisions of the fiscal plan in relation to the EC’s excessive deficit procedure.

Series:

Country Report No. 19/40

Subject:

English

Publication Date:

February 6, 2019

ISBN/ISSN:

9781484397718/1934-7685

Stock No:

1ITAEA2019001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

71

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