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Renzi reforms key for growth says IMF

Labour-market reform needed to fight unemployment

27 February, 16:52
Renzi reforms key for growth says IMF (ANSA) - New York, February 27 - Premier Matteo Renzi's structural reform plans are "key" to pumping Italian growth, International Monetary Fund Spokesman Gerry Rice said Thursday. Renzi aims to slash red tape, cut payroll and business taxes, and boost small and medium-sized firms to help lift Italy fully out of its longest postwar recession.

The planned reform of the labour market to make hiring and firing easier while providing a safety net and retraining was essential to cutting Italy's record unemployment of more than 12%, and more than 40% for the young, Rice said.