Italy is considered a developed country. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developed country, Italy is able to offer its citizens social services such as public education, health care and law enforcement. Citizens of developed countries enjoy a high standard of living and longer life expectancies than citizens of developing countries. Each year, Italy exports about US$474 billion and imports about US$435.8 billion. 11.1% of the country's population is unemployed. The total number of unemployed in Italy is 6,581,298. In Italy, 28.7% of the population lives below the poverty line. The proportion of citizens living below the poverty line in Italy is relatively high, but does not give rise to total concern in terms of investment. Potential lenders should look at other economic indicators, including GDP, urbanization rate and currency strength, before making investment decisions. Government spending on education is 4.3% of GDP. The country's Gini index is 31.9. There is good equality in Italy. The majority of citizens in Italy fall within a narrow income bracket, although in some cases there can be significant differences. Italy has a Human Development Index (HDI) of 0.872. Italy has a very high HDI value. This suggests that almost all citizens are able to lead a desirable life because of social and economic support; Citizens with a low standard of living receive help and support and have the opportunity to advance in society. The Global Peace Index (GPI) for Italy is 1.669. Due to the strong presence of the law enforcement authorities and the high level of social responsibility, Italy is very safe in international comparison. The strength of the legal rights index for Italy is 2. Overall, it is considered to be rather weak – bankruptcy and collateral laws fail to protect borrowers' and lenders' rights in the event of credit-related complications; Credit information is scarce, if any, and difficult to access.


Currency
The currency of Italy is euro. There are several plural forms of the name 'euro'. These are euro, euros. The symbol used for this currency is €, and it is abbreviated as EUR. The euro is divided into Cent; there are 100 in one euro.

Credit rating
The depth of credit information index for Italy is 7, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Italy has a credit rating score of BBB-, and the prospects of this rating are stable. According to the Fitch credit-rating agency, Italy has a credit rating score of BBB+, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Italy has a credit rating score of Baa2, and the prospects of this rating are stable.

Central bank
In Italy, the institution that manages the state's currency, money supply, and interest rates is called Bank of Italy. Locally, the central bank of Italy is called Banca d'Italia. The average deposit interest rate offered by local banks in Italy is 0.95%.

Public debt
The government debt of Italy has not been calculated yet.

Tax information
The corporate tax in Italy is set at 27.9%. Personal income tax ranges from 23% to 43%, depending on your specific situation and income level. VAT in Italy is 22%.

https://www.confiduss.com/en/jurisdictions/italy/economy/