S & P confirms judgment on Italy, ‘well the reforms’ – AGI – Agenzia Journalistic Italy

Economy

23:15 May 15, 2015

(AGI) – Rome, May 15 – Standard & amp; Poor’s maintains the same judgment on the sovereign rating and confirmation for our country a ‘BBB-’, slightly above the ‘junk’. The agency, however, ‘promotes government reforms Renzi, points out that the recovery and’ ‘well on track “and expected to grow by 0.4% in 2015, slightly better than last December forecast. The rating agency does not consider even particularly complicated the management of the ‘grain’ pensions after the ruling of the consultation which declared unconstitutional blocking indexing, clarifies that will have ‘an impact on the accounts, but stressed that the government is addressing the issue . S & amp; P believes that the government “will continue ‘to implement structural and fiscal reforms, which could increase the potential for growth in the coming years.” In particular, the agency points out, “the adoption of the electoral law reform will improve ‘efficiency of the legislative process in Italy”, and “with the reforms of the labor market and the banks, shows the government’s determination to Renzi continue its reform program. ” The recovery also adds S & amp; P, and ‘well underway, thanks largely to external factors such as growth in the eurozone, the depreciation of the dollar and falling oil prices. According to the agency, the GDP will grow ‘by 0.4% this year and accelerate to 1% per annum in 2016-2017. Also for this year, the GDP could record one more increase if the trend registered in the first quarter (+ 0.3%) will be ‘confirmed. Also promoted the jobs act, which could put an end to the loss of jobs in Italy, although it is not expected to pick up again quickly. In particular, we expect “a growing shift in the structure of employment in favor of permanent contracts against those completed, in particular thanks to tax incentives provided to businesses this year and which exempt from paying social security contributions on new permanent contracts. And yet, “he adds S & amp; P,” we expect the turnaround of the Italian labor market will be ‘slow, in the absence of further measures to improve the economic environment and the investment climate “. The last time he had expressed an opinion on Italy, last December, S & amp; P was much less kind to the prospects of our country as well as a rating cut to levels almost ‘junk’, had also spoken of a weakening growth prospects. A meta ‘June WILL BE FOR’ at Moody’s expressed its verdict on Italy.

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