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Italy: Toward a Growth-Friendly Fiscal Reform

Author

Listed:
  • Michal Andrle
  • Shafik Hebous
  • Alvar Kangur
  • Mehdi Raissi

Abstract

Published in late 2017, the Italian medium-term fiscal plan aims to achieve structural balance by 2020, although concrete, high-quality measures to meet the target are yet to be specified. This paper seeks to contribute to the discussion by (i) assessing spending patterns to identify areas for savings; (ii) evaluating the pension system; (iii) analyzing the scope for revenue rebalancing; and (iv) putting forward a package of spending cuts and tax rebalancing that is growth friendly and inclusive, could have limited near-term output costs, and would achieve a notable reduction in public debt over the medium term. Such a package could help the authorities balance the need to bring down public debt and, thus, reduce vulnerabilities while supporting the economic recovery.

Suggested Citation

  • Michal Andrle & Shafik Hebous & Alvar Kangur & Mehdi Raissi, 2018. "Italy: Toward a Growth-Friendly Fiscal Reform," IMF Working Papers 18/59, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:18/59
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    Cited by:

    1. Carlo Mazzaferro, 2018. "Is the Italian NDC pension system really sustainable?Parameters’ design and consistency," Center for the Analysis of Public Policies (CAPP) 0164, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".

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