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| ITALICA NEWS |
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| IMF: 'San Marino's economy proved dynamic'
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| [ Italica ] - Despite weak external demand for manufacturing goods, the Republic of San Marino’s economy proved dynamic and resilient thanks to positive performances of tourism and significant domestic demand. Inflation stands at 2 per cent and labour market records high employment rate and wage increase. GDP is expected at 1% and at 1.2% in 2024 and 2025, respectively.
IMF, in its executive directors assessment, however, warns that some vulnerabilities such as global uncertainties and trade tensions remain. The recently approved income tax reform is seen positively but public spending could be made more efficient and the long-term sustainability of the pension system should be ensured. Benefits would also come from a well-designed VAT and upgradings of the regulatory framework in order to comply with a faster implementation of the EU association agreement. [November 25, 2025 - Italica]
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