Despite challenging economic conditions over the past decade, Italy remains one of the largest economies in Europe and globally with fundamental strengths in the quality of its workforce and robust private domestic consumption. Italy’s recovery from the Global Financial Crisis of 2008-09 and the European Debt Crisis of 2012-13 has been slow and much work remains to be done to restore Italy’s economic health. However, in 2018, there have been some positive signs with unemployment falling to the lowest level since 2012, real wages beginning to rise, and government spending expected to boost short term growth. Going forward, Italy could seek to strengthen its external economic ties and capture the benefits of globalisation by growing exports and actively seeking to increase the levels of foreign investment in its economy.
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