| Series Title | The Local.it |
|---|---|
| Series Details | 18.09.14 |
| Publication Date | 18/09/2014 |
| Content Type | News |
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Italy's government must overhaul its labour market to kick-start its economy, which is set to shrink for the third year running in 2014, the International Monetary Fund said on the 18 September 2014. The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with Italy in September 2014. The Italian economy was struggling to emerge from a balance sheet recession. GDP contracted in the first half of the year but business surveys and resilient exports suggested a gradual increase in economic activity in coming quarters. Against the background of significant economic slack, inflation fell well below 1% and unemployment reached 12.3%. The IMF argued that deep structural changes were needed to unleash Italy’s growth potential, secure a recovery, and address debt overhang issues. They welcomed the bold policy agenda set out by the new government. The proposed changes to the labour market, the judicial system, the public sector, and the electoral law were important steps for supporting future growth. |
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| Source Link | http://www.thelocal.it/20140919/italy-must-overhaul-its-job-market-imf |
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| Countries / Regions | Italy |
