Price stability and balanced public accounts as a condition for sustainable development
The article illustrates Italy's economic recovery as part of a process of renewal involving the institutions, every area of the economy and Italian society as a whole. After the turning point in 1992, a general consensus emerged that European integration was necessary and fully consistent wit...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
1998-03-01
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| Series: | PSL Quarterly Review |
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| Online Access: | http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/10587/10471 |
| Summary: | The article illustrates Italy's economic recovery as part of a process of renewal involving the institutions, every area of the economy and Italian society as a whole. After the turning point in 1992, a general consensus emerged that European integration was necessary and fully consistent with the national interest. In this context, the three components of economic policy - budgetary policy, incomes policy, monetary policy - are working in tandem, ensuring stability, the essential condition from any lasting and sustainable growth. Thus inflation has now been beaten; the balance of payments on current account has recorded increasing and substantial surpluses, and there has been a huge reduction in the budget deficit, with a large primary surplus.
The sustainability of these results is ensured by the implementation of structural reforms: tax reform, reform of central government budget, reform of the civil service, pensions reform and reform of Italy’s commercial system. |
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| ISSN: | 2037-3635 2037-3643 |