Italian public pension spending highest in OECD
(AGI) Rome, Dec 8 - Public pension costs in Italy account for32 percent of all public spending, the highest in theOrganisation for Economic Co-operation and Development (OECD).Average pension costs in developed countries was 18 percent ofpublic government spending in 2011, according to this year'sOECD Outlook. Iceland spends least, with 5 percent. The OECDpraised Italy for the financial sustainability of its pensionsreform, but criticised it for adequacy in terms of income. Itaccepted the impact of the reforms was substantial and affecteda large amount of the population. Germany's reforms werepraised for sustainability