The OECD has just published its latest Economic Survey of Italy.
According to the report, Italy has made considerable progress in strengthening its public finances and adopting wide-ranging reforms to boost economic growth.
The latest Economic Survey of Italy says implementation of the key 2012 reforms aimed at improving the dynamism of labour and product markets must be implemented effectively. This will improve Italy’s persistently weak productivity and boost the country’s international competitiveness, the report says.
Poor competitiveness, a drop in bank lending and the immediate impact of public spending cuts and tax rises on households and businesses continue to undermine growth in the short term. The report forecasts GDP to fall by 1.5% this year before inching up by 0.5% in 2014.
The whole report is available for the IESE Community here.