Italy: 2005 Article IV Consultation—Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Italy
February 16, 2006
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This 2005 Article IV Consultation highlights that despite the better cyclical outlook, medium-term trends for Italy remain troubling: potential growth is estimated at just 1¼ percent, as low productivity growth and high domestic costs have led to a steady erosion of competitiveness and export market share. The 2005 fiscal deficit target of 4.3 percent of GDP is estimated to have been met, thanks in part to measures introduced by the authorities. For 2006, the authorities have committed to a deficit target of 3.5 percent of GDP.
Subject: Banking, Budget planning and preparation, Competition, Expenditure, Financial markets, Health care spending, Production, Productivity, Public debt, Public financial management (PFM)
Keywords: asset quality, authority, Budget planning and preparation, Competition, council recommendation, CR, deficit, EU commitment, Europe, GDP, Health care spending, ISCR, Italy, October outturn, private sector, privatization process, Productivity, Western Europe
Pages:
56
Volume:
2006
DOI:
Issue:
060
Series:
Country Report No. 2006/060
Stock No:
1ITAEA2006002
ISBN:
9781451819892
ISSN:
1934-7685
