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2019 OECD Economic Surveys: Italy 2019

image of OECD Economic Surveys: Italy 2019

In recent years Italy achieved a modest recovery, supported by global economic conditions, expansionary monetary policy and structural reforms. However, the recovery has recently weakened and Italy continues to suffer from long-standing social and economic problems. Living standards are roughly the same as in 2000 and poverty rates for young people remain high. Large regional disparities have widened over recent decades. A comprehensive reform package, raising productivity and employment growth, holds the key to stronger growth and social inclusion. In-work benefits and a moderate guaranteed income scheme would boost employment and reduce poverty, if supported by improved job-search and training programmes. Rationalising and improving coordination among bodies involved in regional development policies and strengthening capacity at the level of local administrations would help to boost growth and social inclusion in lagging regions.

SPECIAL FEATURE: TACKLING ITALY’S SOCIAL AND REGIONAL DIVIDE

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Basic statistics of Italy

(Data refer to 2017 or latest available. Numbers in parentheses refer to the OECD average)

This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.The economic situation and policies of Italy were reviewed by the Committee on 4 February 2019. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 13 March 2019.The Secretariat’s draft report was prepared for the Committee by Mauro Pisu and Tim Bulman under the supervision of Sebastian Barnes. Statistical research assistance was provided by Federico Giovannelli, and editorial support was provided by Heloise Wickramanayake. The previous Survey of Italy was issued in February 2017.Information about the latest as well as previous Surveys and more information about how Surveys are prepared is available at www.oecd.org/eco/surveys.

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