Minister of Economy and Finance Pier Carlo Padoan confirmed recently that economic expansion in Italy is accelerating, despite an unfavorable international environment. Growth and stability are being mainly driven by household consumption, which is being buoyed by confidence, incomes and investment – both public and private.

In an interview with United World, Mr Padoan explains the reasons why Italy, the second manufacturing powerhouse of the euro-zone, has a solid financial system and the banking reforms introduced to clear its NPLs. He also discusses the government's pro-market approach, which entails tax cuts, fiscal incentives, and a privatization plan that will help boost Italy's competitiveness while reducing public debt.

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Source: http://www.theworldfolio.com/