Italy needs 'large, sustained fiscal adjustment' - OECD

The OECD said in its spring Economic
Outlook report on Thursday that major effort is needed to bring
down Italy's deficit in the coming years.

   
"The government deficit will narrow but remain above 3% until
2025, the public debt ratio is high and there are substantial
spending pressures from investment needs and ageing costs," the
Paris-based body said.

   
"A large and sustained fiscal adjustment will be required over
several years to meet future spending pressures, while putting
the debt ratio on a more prudent path and complying with the new
EU fiscal rules.

   
"The adjustment should include decisive action to tackle tax
evasion, limiting the growth of pension spending and conducting
ambitious spending reviews".

   

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