Domenica, 21 Ottobre 2018

OECD tells Italy not to backtrack on reform


(ANSA) - Rome, September 24 - The Organisation for Economic
Co-operation and Development (OECD) on Monday called for Italy
not to backtrack on the reforms Premier Mario Monti has launched
when the term of his emergency government ends next year.
"Say no to the temptation to go back and dismantle the
reforms carried out," OECD Secretary General Angel Gurria told a
conference that Monti also took part in.
Monti's government has introduced a series of reforms,
including liberalisation in many sectors and labour-market
measures that will make it easier for firms to dismiss workers,
a move designed to boost productivity and make companies more
inclined to hire people.
Gurria said these moves would generate big rewards.
"The structural reforms launched by the Monti government
will make it possible for Italy to increase GDP by 4% over the
next 10 years, an increase of 0.4% a year solely on the basis of
the reforms announced so far," said Gurria.
The OECD chief agreed with Monti's assessment that Italy is
now part of the solution to the eurozone debt crisis, rather
than a source of problems.
"The future of Italy is not the only thing at stake, the
construction of Europe is," he said. "Italy is making a decisive
contribution to this".
Gurria described Monti as the "right man at the right
moment" for "overcoming obstacles that have conditioned Italy's
growth for some time" by taking "unprecedented courageous
But the OECD also stressed that many challenges, such as
reducing massive youth unemployment and boosting productivity,
lie ahead.
"Youth unemployment in Italy is three times higher than
the (OECD) average of 11%, at over 35%, which is not just a
number," Gurria said. "This represents broken dreams, the loss
of confidence and sometimes desperation".
His comments came as a new OECD report said that the rate
of growth of Italian productivity is the lowest in the OECD.
"Italy must face a series of challenges in terms of
competitiveness. Indeed, greater competitiveness is a key
element for the consolidation of growth," the report said.

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