In recent years, Italy has experienced a modest economic recovery resulting in an average growth of 1.1% between 2015 and 2018. Following important labour market reforms, it has also experienced a significant rise in the employment rate, by 3 percentage points since 2015. And there have also been other encouraging improvements, such as the shift of Italian export industries to higher value added products.
Today, the global economy is facing serious headwinds. According to our latest Economic Outlook released earlier this month, global growth is projected to further decrease from 3.6% in 2018 to 3.3% in 2019 and to 3.4% in 2020. Trade and investment growth remain sluggish and the large increase in inequality many countries experienced before the crisis persists.
Pour rendre la croissance plus forte, plus inclusive et durable, améliorer les perspectives d'emploi et réduire la dette publique en Italie, les pouvoirs publics doivent mettre en œuvre un programme complet de réformes de grande envergure, tout en préservant les mesures importantes adoptées au cours des dernières années, selon un nouveau rapport de l'OCDE.
Mr. Angel Gurría, Secretary-General of the OECD, will be in Rome on 1-2 April 2019 to present the 2019 OECD Economic Survey of Italy at a Press Conference, alongside Minister Giovanni Tria.
Italy’s justice system is gaining greater efficiency, thus gradually closing its paradoxical gap.
The Italian banking system has long since been waiting for a comprehensive reform addressing structural inefficiencies and structural rigidities. As of 2014, the Government has defined a comprehensive reform plan while also tackling the crisis affecting several banks.
Growth in Italy is taking place more slowly than in other Eurozone countries. Public debate about this fact offers several explanations but rarely juxtaposes long-period trends with recent policies.
Growth seems to be slowly picking up. This is good news. But we are still facing a vicious circle of low productivity growth, sluggish demand, stagnant wages and, in many G7 countries, rising or high levels of inequalities.
Italy is recovering after a deep and long recession. Structural reforms, accommodative monetary and fiscal conditions, and low commodity prices have spearheaded the ongoing economic recovery.
Despite the challenging global environment, Italy has made important reforms. We now predict the Italian economy will grow at a rate of 1% for 2017 and 2018. Reforms have helped to create 3.2 million new permanent contracts and boost total employment by 2% since early 2015.