In recent years, the Italian Government has accelerated the reform process by introducing long-term structural innovations in several areas such as governance, finance and taxation, justice and the labor market. An efficient banking system, a functioning bureaucratic and judicial system, and a flexible labor market will bring about a real reduction of community aggravation and provide a framework of legal certainty, improving the business atmosphere and promoting foreign investment attraction.
In this context, the first issue of the English-language Newsletter of the Ministry of the Economy and Finance “The Narrow Path” (see attached) is included in order to update a professional audience on major reforms and the performance of the economic and financial situation Italy. The choice of the title reflects the need to start along a narrow path: on the one hand, structural reforms aimed at reducing debt and ensuring a steady overhead budget surplus; On the other hand, stimulate the economy to allow growth.
The Newsletter therefore provides a concise overview of the country’s economic, financial and banking system’s health: growth is expected to be + 1.3% of GDP in 2017, a 2.1% drop in the deficit (Compared to 3.0% in 2014) and, in the first four months of this year, a reduction in non performing loans – “bad debts” – by 12.4 percentage points.
Also illustrated are the most recent tax measures adopted.
