A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’). Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF's Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments. The views expressed in this statement are those of the IMF staff. Focusing on Republic of Italy, reports shows : (a) The economy continues to recover from a deep and protracted recession (b) The recovery is likely to strengthen but remain modest in the coming years (c) Cognizant of Italy’s complex challenges, the government has been pursuing a range of important reforms (d) It is imperative that these efforts are expanded and completed (e) Building on the recent reform progress, further steps in three priority areas could help lift growth (f) Several important steps have been taken recently toward fostering the stability and viability of the banking system (g) Fiscal policy faces a difficult balancing act of reducing the high public debt and supporting growth (h) Taking advantage of the low interest rate environment, fiscal policy should remain anchored to an ambitious medium-term consolidation path, supported by pro-growth policies, to secure public debt on a firmer downward path.