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The economy of Italy is a highly developed social market economy. [31] It is the third-largest national economy in the European Union, the second-largest manufacturing industry in Europe (7th-largest in the world), [32] the 8th-largest economy in the world by nominal GDP, and the 11th-largest by PPP-adjusted GDP. Italy is a developed country ...
In the recent decades, however, Italy's economic growth has been particularly stagnant, with an average of 1.23% compared to an EU average of 2.28%. Previously, Italy's economy had accelerated from 0.7% growth in 1996 to 1.4% in 1999 and continued to rise to about 2.90% in 2000, which was closer to the EU projected growth rate of 3.10%.
Italy's economy contracted by 0.3 percent in the second quarter of 2008. [29] The unemployment rate rose from 5.7% in April 2007 to 8.6% in April 2010. Italy was mostly isolated from the effects of the Great Recession of 2008–2009 as their banking system did not engage in risky investment behavior and was sound.
Italy will probably balance its primary budget this year, excluding interest payments on government debt, the economy minister said on Friday, as Rome prepares a medium-term fiscal plan for ...
Signs of economic weakening in Italy and the wider euro zone are complicating the new, anti-establishment coalition's plans for deep tax cuts and higher welfare spending. When the euro zone slows ...
Italy’s parliament on Saturday approved the government’s 2025 budget, worth a total of 30 billion euros ($31 billion) — more than half of that in tax cuts and social security benefits for ...
Italy has been a member of the International Monetary Fund (IMF) since 1947, they joined in an effort to revive the economy after WWII. Currently Italy has a 3.02% vote share. Recently IMF have claimed that Italy's proposed budget which has a deficit of 2.4% of their GDP could lead to a recession that would last till the 2020s
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