The Organization for Economic Cooperation and Development on Thursday warned that Italy's fiscal consolidation will be more difficult in the future.
    "In the coming years, tensions related to defense spending, pensions, and climate change will increase, while public investment needs will remain significant, which will complicate fiscal consolidation," according to the fact sheet dedicated to Italy in the first OECD report on the Foundations of Growth and Competitiveness, presented in Paris.
    The report outlines three recommendations: "Reduce and use windfall revenues to reduce the deficit," "Further strengthen the role of expenditure scrutiny, making savings targets more ambitious," and "Increase revenue by combating tax evasion, reducing tax expenditures, and improving the effectiveness of tax administration, including through digital payments and the updating of property tax calculations." In other points the OECD said Italy must improve the activity level of young people and women; that it must boost cooperation between research centres and business; that it must enhance education to bolster human capital; and that there had been progress over employment but a lot remains to be done in Italy.
   
   

ALL RIGHTS RESERVED © Copyright ANSA