IMF Staff Country Reports

Italy: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Publication Date:

July 23, 2024

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Activity expanded by nearly 1 percent in 2023, with GDP surpassing its pre-pandemic level by 4½ percent. Headline inflation fell on the drop in energy prices, with core inflation also moderating. Employment rose alongside real activity. Financial conditions have eased somewhat but remain tight. Despite fiscal deficits much larger than pre-COVID, the public debt ratio declined on deferred recording of tax credits and strong nominal GDP growth. Sovereign debt risks are moderate overall, but high at the medium- and long-horizons. Low fertility and low female labor force participation foreshadow faster population and work force declines amid weak productivity growth.

Series:

Country Report No. 2024/240

Subject:

Financial institutions Financial sector policy and analysis Financial sector stability Fiscal policy Fiscal stance Gender Gender diversity Labor Labor force participation Loans Nonperforming loans Public debt Tax allowances Taxes

Frequency:

regular