Italy
Victoria Patrico
World Ranking: 80 Overall Score: 61.7
Population:
Italy
- 59.7 million
USA
- 316.4 million
GDP (PPP):
ITALY
- $1.8 trillion
- -1.9% growth
- -1.5% 5-year compound annual growth
- $30,289 per capita
USA
- $16.8 trillion
- 1.9% growth
- 1.2% 5-year compound annual growth
- $53,101 per capita
ITALY
12.2%
USA
7.5%
ITALY
1.3%
USA
1.5%
ITALY
$16.5 billion
USA
$187.5 billion
7 Major Sources of Economic Progress
Legal System
Competitive Markets
EU members have about a 1.0 percent average tariff rate. Some non-tariff barriers exist the EU is open to external trade. Foreign and domestic investments are treated relatively equal under Italian law. The financial system, which are dominated by banks are vulnerable to state interference. There are about 700 banks. Nonperforming loans have increased a lot since 2007.
Limits on Government Regulation
An Efficent Capital Market
Monetary Stability
Low Tax Rates
Free Trade
Business formation takes only five procedures. Burdensome licensing requirements require over three months on average.The labor market remains stagnant Which discouraging dynamic entrepreneurial growth. Monetary stability has been relatively well maintained. The government has reduced subsidies for renewable energy.