Italy: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy
IMF Staff Country Reports, July 11, 2016
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- Italy: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy
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Bibliographic details
- Published: July 11, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498354936.002
Near-term macroeconomic outlook and growth performance
- The economy grew by 0.8 percent in 2015.
- The economy continued to expand in the first quarter of 2016.
- Growth is projected to remain just under 1 percent in 2016 and at about 1 percent in 2017.
Drivers of the recovery
- Buoyed by exceptionally accommodative monetary policy.
- Favorable commodity prices.
- Supportive fiscal policy.
- Improved confidence on the back of the authorities’ wide-ranging reform efforts.
Financial sector and labor market developments
- Labor market conditions have been improving gradually.
- Nonperforming loans appear to be stabilizing at about 18 percent of total loans.
Core themes and subject areas covered
- Banking; Distressed assets; Financial institutions.
- Fiscal policy; Fiscal stance.
- Labor; Labor markets.
- Loans; Nonperforming loans.
Source: Italy: 2016 Article IV Consultation; IMF Staff Country Report No. 2016/222.