2021 OECD Economic Surveys: Italy 2021

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Italy’s economy is recovering steadily from the COVID crisis, thanks to the vaccination campaign and generous fiscal support to households and firms. Risks to the outlook are large, including virus variants and the path of global interest rates. To raise growth and employment above pre-pandemic levels, the composition of public spending and taxes must improve. Together with implementation of the National Recovery and Resilience Plan, which includes critical structural reforms and investments, this can help support a faster transition towards a greener, more digitised economy. Realising this will require a demanding set of legislative and administrative reforms. Improving civil justice, tax administration and public investment will be essential to raise income growth. Making more effective use of performance information and spending reviews can help reallocate public spending to the most growth-enhancing activities. Reviewing the existing stock of regulations and how they are enforced would improve the business environment. Agile recruitment and better assessing, rewarding and supporting the performance of public servants would fill growing skill gaps in the public workforce. Improving collaboration across Italy’s multiple layers of government would improve delivery of public services such as childcare and active labour market policies.


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Basic statistics of Italy, 2019

(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 6 July 2021. 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 22 July 2021. The Secretariat’s draft report was prepared for the Committee by Catherine Macleod (Senior Economist) and Tim Bulman (Senior Economist), with contributions from Ruggero Doino, under the supervision of Isabelle Joumard (Head of Division). Statistical research assistance was provided by Béatrice Guérard and editorial assistance by Heloise Wickramanayake and Gemma Martinez. The previous Survey of Italy was issued in April 2019. 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

English Also available in: French

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