Changes in the pension system
planned by the government that would effectively lower the
retirement age, allowing people to end their working lives when
their age and number of years of social-security contributions
reach 100, would have negative effects, the International
Monetary Fund (IMF) said Tuesday.
It stressed that a further increase in spending on pensions
would increase the burden on the young and lead to lower
employment rates among older workers.
The IMF added that it was unlikely that the retirements
expected would create the same number of jobs among the young
and that it is necessary that excesses in the system be
rationalized.
Italian GDP will be 1.1% in 2018-2020 and then will fall, the
International Monetary Fund said Tuesday.
It also said the effects of Italian budget measures would be
"uncertain" if the bond spread remained high.
The IMF also said Italy must cut its debt or face risks of a
recession.
ALL RIGHTS RESERVED © Copyright ANSA