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
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Volume/Issue:
Volume 2022
Issue 255
Publication date: August 2022
ISBN: 9798400217708
$20.00
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Topics covered in this book
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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
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.
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