The reforms undertaken by Italy have a huge potential for growth and competitiveness, the Secretary General of the Organization for Economic Cooperation and Development (OECD), Angel Gurria, said on Monday.

Italy has launched a very ambitious program of structural reforms, which is "useful to Italy, but also to Europe", Gurria told a press conference after meeting Italy's Prime Minister Mario Monti in Rome.

According to the OECD chief, the growth and liberalization measures adopted by Monti's cabinet of technocrats would be able to increase the country's productivity by 8 percent in 10 years.

Gurria also praised the fiscal reforms adopted by Italy, saying the fight against tax evasion and underground economy will significantly contribute to the revival of the country's economy.

The Paris-based organization will fully support Italy in the process of reforms that are also an essential element in the solving of the euro crisis, he stressed.

Monti welcomed the OECD's backing of his economic policy strategy, stressing the organization is "a fundamental point of reference for Italy's reforms."

"I express my great appreciation for the contribution of analysis and proposals that the OECD has provided to help member countries to address the economic crisis, as well as for the role it plays in the review of governance within the G20," he said.