I think that Italy is too weak both in 1933 and 1936 scenario, especially in naval sector. Because it's very difficult to complete all six battleships in costruction queue especially for the AI. I think that a slighty increase of IC (70?) or peacetime ic modifier increased plus a bluprints for carrier 1922, would be great. Please add few more event/decision, like:
Fall of yugoslavian navy, add 1-2 destroyer (Dubrovnik, Ljubjana,Beograd, plus six T class torpedoboat) and 1 submarine flotilla (Smeli,Ostvenik,Hrabri)
Scuttling of the French fleet in Toulon, add 2-4 destroyes (Lion,Valmy, Panthère,Tigre,Trombe,Le Siroco,L'Adroit,Lansquenet,Bison,Le Foudroyant,Le Hardi, plus five "610 Tonnes" class torpedo boat), 2 light cruisers (Jean de Vienne,La Galissonére) 2 submarine. (Phoque,Espadon,Requin,Dauphin,Saphir,Turquoise,Ci rcé,Henri Poincaré,Aurore) in costruction queue in order to simulate repairs.
Siamese cruisers, add in costruction queue 2 light cruisers (Etna and Vesuvio)
AOI Army, add few garrison in order to bolster the defense of AOI