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Italy: is a "miracolo economico" around the corner?

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  • Oscar-Erich Kuntze

Abstract

Social and political conditions in Italy have changed considerably, with the result that structural change has accelerated and the still-numerous rigidities have been more quickly broken up. In 2000 the international economic upswing contributed to a noticeable increase in economic growth (+2.9%). The situation on the labour market has continued to improve. Employment has increased by 1.5% and the unemployment rate fell by 0.8 percentage points to 10.5% for the year as a whole. Consumer prices increased by 2.9%. At the beginning of this year growth continued at the same pace, but a clear slowdown is expected during the summer half year. Real GDP is expected to grow by about 2%. The labour market will show moderate improvement. Consumer prices should rise by 2¾% over 2000. With improved international economic conditions, the Italian economy will expand at a faster pace in 2002. Economic growth should amount to 2¼% with a gradually faster increase in employment. Inflation will weaken. The current accounts will continue to be nearly in balance.

Suggested Citation

  • Oscar-Erich Kuntze, 2001. "Italy: is a "miracolo economico" around the corner?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 54(13), pages 53-59, September.
    • Handle: RePEc:ces:ifosdt:v:54:y:2001:i:13:p:53-59
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    More about this item

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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