## Italy: Selected Issues

_IMF Staff Country Reports, July 26, 2023_

## Source details

**Canonical URL:** [Italy: Selected Issues](https://www.imf.org/en/publications/cr/issues/2023/07/25/italy-selected-issues-536916)

## Other formats

- [Markdown version](/en/publications/cr/issues/2023/07/25/italy-selected-issues-536916/index.md)
- [Structured JSON version](/en/publications/cr/issues/2023/07/25/italy-selected-issues-536916/index.json)
- [Bundle manifest](/en/publications/cr/issues/2023/07/25/italy-selected-issues-536916/bundle-manifest.json)

## Bibliographic details
- Published: July 26, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400249280.002

---

### Demographic drag and catch-up potential
- Italy faces a demographic drag on output that requires fundamental changes to shift from the current suboptimal equilibrium.
- Italy has large catch-up potential to help overcome the demographic drag on output.
- On numerous metrics, Italy is among the worst EU performers in areas that directly bear on output, including:
  - female labor force participation
  - NEET youth
  - educational attainment
  - digitalization

### Labor participation and productivity constraints
- Increasing employment is essential, but not sufficient to secure sustained output growth.
- Boosting female labor force participation and the effective retirement age would raise economic output, but:
  - such measures alone would not achieve growth unless accompanied by higher capital and total factor productivity.
- Going forward, Italy needs a sustained, pro-growth strategy to significantly boost productivity to counteract demographic decline.

### Reform priorities and implementation timing
- There is scope to quickly narrow labor participation gaps.
- Transformational reforms are needed to address critical shortcomings in:
  - education
  - competition
  - public administration
  - the judicial system
- These reforms likely entail long gestation periods and therefore:
  - it is imperative that reforms be implemented promptly and decisively.

### Key publication metadata and identifiers (as stated)
- Publication date: July 26, 2023
- Pages: 29
- Volume: 2023
- Issue: 274
- Series: Country Report No. 2023/274
- DOI: https://doi.org/10.5089/9798400249280.002
- Stock No: 1ITAEA2023002
- ISBN: 9798400249280
- ISSN: 1934-7685

*International Monetary Fund. "Italy: Selected Issues", IMF Staff Country Reports 2023, 274 (2023).*

---

## Content in this bundle

- **Italy: Selected Issues; IMF Country Report No. 23/274; July 5, 2023**
  - [Italy: Selected Issues; IMF Country Report No. 23/274; July 5, 2023 (Markdown version)](/-/media/files/publications/cr/2023/english/1itaea2023002.pdf.md){rel="alternate" type="text/markdown"}
  - [Italy: Selected Issues; IMF Country Report No. 23/274; July 5, 2023 (PDF)](/-/media/files/publications/cr/2023/english/1itaea2023002.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/cr/issues/2023/07/25/italy-selected-issues-536916_