Italy: 2008 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Italy
Volume/Issue:
Volume 2009
Issue 045
Publication date: February 2009
ISBN: 9781451820027
$20.00
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Topics covered in this book
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Business and Economics , Banks and Banking , Exports and Imports , Finance , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , potential GDP , debt ratio , saving investment balance , Italy , exchange rate , IMF staff calculation , IMF staff estimate , consultation discussion , world market shares , Fiscal stance , Competition , Credit , Exports , Global , Central and Eastern Europe
Summary
Italy’s 2008 Article IV Consultation describes the country's economic developments and policies. Output has been projected to contract by about ½ percent in 2008 and 1 percent in 2009, with risks tilted to the downside, linked to a further slowing of global growth and falling consumer confidence. The economy’s ability to rebound quickly is hampered by rigidities in the product and labor markets, a lack of domestic competition, a likely slower pace of industrial restructuring, and weakness of the public finances.
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