Italy:2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Volume/Issue: Volume 2022 Issue 255

Publication date: August 2022

ISBN: 9798400217708

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Finance , Inflation , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , International - Economics , money market rate , price signal , liability positions vis-à-vis nonresident , public finance , financial asset , Energy prices , Loans , Inflation , Fiscal stance , Global

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Summary

GDP has fully recovered from the pandemic crisis, but government debt has risen to very high levels. The war in Ukraine triggered a surge in energy prices and the prospect of monetary policy tightening caused government bond yields to rise sharply. Implementation of the National Recovery and Resilience Plan (NRRP), which provides large EU grants and loans conditioned on implementing a comprehensive reform and investment program, is underway.