Def, Padoan announces: “Italy out of recession. Stop clauses … – The Messenger

The Minister of Economy, Pier Carlo Padoan, defends to the Committees of the House and Senate Budget implantation Def. It responds to the different notes arrived (Bankitalia look at the accounts, the Court of Auditors to the reforms) on the use of the “treasure” that will be used – said the minister – in a “consistent” with respect to economic policies.

The “difference of a tenth of a point of GDP” between deficit trend and planning will be used for ‘measures with temporary effects on the budget for 2015, but consistent with the process of reforms undertaken » . And, reiterating its aversion to the term “treasure” he adds, “using that thing some call treasure and I call unfair difference between trend and planning has not been decided that no, and of course I gladly welcome the calls for caution. It is clear that there are elements of uncertainty and as assessed the availability of excess resources. “

Then a hint to the path in the medium term for which is said Padoan however confident than the judgment EU: “I am confident – he says – the positive reception for the flexibility clause on the part of the EU Commission and the Council.” Also Italy is “respecting the rule of debt: it must be respected in the final period, 2018». As for 2015, “the set of exceptional circumstances is sufficient to consider rule debt satisfied.”

The owner of Via XX Settembre explains that “the Italian economy is out of recession,” and recalls ” GDP growth will be 0.7% (+ 0.1% in the first quarter says Istat, ed) in 2015 and then by 1.4% and 1.5%. It is prudent forecasts but the first data are encouraging. ” With Def “we support the recovery while avoiding the increased tax burden,” also because it is in the presence “of a significant improvement of the environment.” And always referring to the best “context” explains that this “allows faster recovery and higher growth than expected.” The government’s action “is strengthened not weakened by certain window of opportunity.”

Speaking of economic policy Padoan confirms that there will be a stop to the safeguard clauses, “the revenue losses will be offset in part by cuts spending by 0.6% points of GDP. ” So we will go ahead with spending but also with privatization, “the operations provided – says – are confirmed: revenues for disposals are valued at 1.7 percent of GDP in the four years with an important contribution to put debt on a downward path . “

Then, in 2016, will come the local tax. And for the reforms already implemented in the labor market adds’ the cut in the tax wedge “and” incentives “to the assumptions introduced by the Law of Stability” will strengthen the impact of the Jobs Act. ” In short, the Def – said the minister – “confirms a clear change of gear in the economic and financial situation of the country” and “the Government will act to support the recovery and avoid a tax increase and raising investment.” Padoan reaffirms, on behalf of the Government, “the commitment to work vigorously for the completion of the reforms that the country needs for many years.”

 April 21, 2015 20:49 – Last Updated: 22:02

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