Italy needs to keep up the good work
on the fiscal front to be able to start bringing down its huge
national debt of over three trillion euros, the IMF said on
Thursday following its Article IV mission here.
“A better-than-expected fiscal outturn in 2024, owing to
continued improvements in tax compliance and a strong labor
market, is welcome,” the IMF said.
“Overall, the headline deficit was halved, the primary balance
turned to a surplus, and the authorities envision further
gradual deficit reduction.
“Staff recommends continuing the strong performance and reaching
a primary surplus of 3 percent of GDP by 2027 to decisively
reduce the debt ratio and help contain related vulnerabilities.
“Achieving this goal would require additional near-term efforts
compared to what is already built into the authorities’ fiscal
plans”.
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