Venerdì, 19 Ottobre 2018
ROME

OECD praises Italy reforms, says recession may end in 2013

English
© ANSA

(see related stories)
Rome, May 2 - The OECD on Thursday praised the
"ambitious programme of reforms" Italy launched last year and
said the country could emerge from its longest recession in two
decades later in 2013.
The OECD said in a report that the reforms "have reduced
the risks of economic slowdown and could help Italy emerge from
the recession in 2013".
But it also warned that new Premier Enrico Letta's
government must implement reforms aimed at boosting growth -
including controversial measures to make the labour market more
flexible - that were introduced by the emergency technocrat
administration of his predecessor Mario Monti.
"Key 2012 reforms aimed at improving the dynamism of labour
and product markets must be implemented effectively," read a
summary.
"This will improve Italy's persistently weak productivity
and boost the country's international competitiveness".
It added that Letta's government should continue with
Monti's efforts to restore health to Italy's public finances.
"Maintaining fiscal consolidation is key to putting Italy's
debt-to-GDP ratio on a downward path over the medium term,"
added the summary.
"Budgetary measures should concentrate on permanent
spending cuts to avoid (increasing) already high levels of
taxation".

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