Best Italia Economy Portal: Moody’s upgrades the reforms of the government: “Jobs Act is significant …

Moody's upgrades the reforms of the government: "Jobs Act is significant … – The Press

Moody’s promotes the reform of the government: “Jobs Act is significant flexibility in the face”

The agency revises estimates for GDP: -0.3% in the second quarter of 2014, an increase of 0.5% in 2015 and the Italian system: “The balance sheet is solid, the country has time to jump-start growth”

ANSA

10/14/2014

“In light of the data in the second quarter, Moody’s expects that the Italian economy will contract by 0.3% in 2014, before rising marginally by 0.5%. ” It’s what we read in a note from Moody’s. Where it is explained that “Italy has a strong budgetary position that is useful to get favorable financing costs, with more time to implement reforms in favor of growth.”

It is precisely focuses on reforms that the report of the rating agency. The acceleration on the reform front, the low cost of refinancing the public debt and the primary surplus allow Italy to mitigate the effects of a return to recession from the perspective of maintaining the current rating. This was underlined by a report released by Moody’s, that – says the agency – there is however no decision on the credit quality Italian (Baa2 with a stable outlook) but just an update to the market.

Moody’s argues that the credit profile of Italy at the time, seen from the negative elements of the weak economy, the fall in confidence and the predictions of a decline in GDP of 0.3% in 2014 . On the other side, there is the government’s action Renzi that the Jobs Act introduced “a significant initiative” on the front of the ‘flexibility’ of the labor market. Moody’s, however, adds that “the reform alone is insufficient to move from a centralized to a decentralized wage bargaining or to increase flexibility in the salary negotiations.”

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Bad weather, overflows the stream Elsa in Maremma Two women died trapped in their car

ANSA

14/10/2014

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