{
  "title": "Italy: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy",
  "publication": "IMF Staff Country Reports, July 11, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/italy-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-executive-44071",
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  "summary": "This 2016 Article IV Consultation highlights that the Italian economy is recovering gradually from a deep and protracted recession.",
  "sections": [
    {
      "heading": "Near-term macroeconomic outlook and growth performance",
      "content": "- The economy grew by 0.8 percent in 2015.\n- The economy continued to expand in the first quarter of 2016.\n- Growth is projected to remain just under 1 percent in 2016 and at about 1 percent in 2017."
    },
    {
      "heading": "Drivers of the recovery",
      "content": "- Buoyed by exceptionally accommodative monetary policy.\n- Favorable commodity prices.\n- Supportive fiscal policy.\n- Improved confidence on the back of the authorities’ wide-ranging reform efforts."
    },
    {
      "heading": "Financial sector and labor market developments",
      "content": "- Labor market conditions have been improving gradually.\n- Nonperforming loans appear to be stabilizing at about 18 percent of total loans."
    },
    {
      "heading": "Core themes and subject areas covered",
      "content": "- Banking; Distressed assets; Financial institutions.\n- Fiscal policy; Fiscal stance.\n- Labor; Labor markets.\n- Loans; Nonperforming loans.\n\nSource: Italy: 2016 Article IV Consultation; IMF Staff Country Report No. 2016/222.\n\n---\n\n Content in this bundle\n\n- Cr16222\n  - Cr16222 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Cr16222 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: July 11, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781498354936.002",
    "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.",
    "Buoyed by exceptionally accommodative monetary policy.",
    "Favorable commodity prices.",
    "Supportive fiscal policy.",
    "Improved confidence on the back of the authorities’ wide-ranging reform efforts.",
    "**Cr16222**"
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