An ambitious programme. This is how the International Monetary Fund defined Matteo Renzi's reform plan. The approval of the tax delegation has been promoted which, according to the IMF, "provides an appreciable framework for simplifying and improving the tax system". Italy also needs "a budget rebalancing aimed at reducing tax rates and increasing productive spending".
In short, measures to support the recovery, which however "remains fragile", above all due to unemployment, which has reached "unacceptable levels, with the consequent need for rapid and courageous economic policy interventions".
Furthermore, according to the International Monetary Fund, Italy has made giant strides as regards the primary surplus (among the highest in the Eurozone), but "more needs to be done to reduce the high level of public debt and strengthen the resilience of public finances”.
As regards fiscal policy, Italy "must ensure the delicate balance between placing the debt ratio on a path of reduction and avoiding excessive tightening that could derail the fragile economic recovery". Finally, the IMF pushes on the Jobs Act: "It would increase equity through the reduction of dualism, especially if it were to replace the current open-ended contracts".
