Reforms for reviving growth It is not sufficient to return to the growth rates of recent years, which were extremely low by international standards. There is a need for structural reforms that will put Italian industry in the best possible position to grasp the opportunities that will be offered by the recovery of the  10  BIS Review 27/2009  world economy.
The Government also projects balanced budgets for 2013 and 2014 of similar magnitude (see Chart 4). Public debt is projected to be 23.2 percent of GDP in 2012, compared to 24.1 percent in the 2011 revised estimates. The lower ratio is mainly due to an increase in GDP. Under the 2011 original budget, K723.2 million was appropriated for specific project trust accounts.