IMF: Italy won't achieve economic growth through fiscal stimulus

In a recently published report, the IMF argued that Italy wouldn't be able to achieve economic growth through fiscal stimulus. 

Key quotes (via LiveSquawk)

  • Growth has to come through structural reforms.
  • Italy must show willingness to deal with underlying problems; does not expect dramatic changes.
  • Sees Italy's GDP growth at 1pct in 2019, 0.9pct in 2020.
  • Countries with significant vulnerabilities like Italy should prioritise cutting deficit, debt.
  • Expansionary fiscal policy could have negative impact on Italy's growth because market reaction would be very unfavourable.

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