› Italy › By Topic › Economy
OECD Secretary-General Angel Gurría has welcomed the measures adopted by the Italian government to address fiscal sustainability while boosting growth and equity.
Italy has been recovering only slowly from its worst post-war recession. Despite recent reform efforts, many structural problems that have in the past been a serious drag on labour productivity persist. The government has contained the budget deficit to some extent but needs to continue.
Pier Carlo Padoan has been appointed Chief Economist of the OECD. Mr. Padoan will maintain his status of Deputy Secretary-General which he has held since joining the OECD in June 2007.
Summary of Economic Surveys: Italy
"Governments need to take quick and decisive action to avoid the financial crisis becoming a fully-blown social crisis with scarring effects on vulnerable workers and low income households," OECD Secretary-General Angel Gurría told G8 Labour and Employment Ministers in Rome today.
OECD Secretary-General Angel Gurría has welcomed the decision by G7 Finance Ministers to work towards setting up a set of common principles on integrity, transparency and propriety in global financial and business transactions.