Def, Padoan started work on the 2017 safeguards – Il Sole 24 Ore

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This article was published April 19, 2016 at 9:10.
the last change is the April 19, 2016 at 09:40 hours.

the safeguard clauses that could be activated in 2017 are worth 0.9 of GDP, and neutering “will take place by implementing an alternative maneuver that will be defined in the coming months.” The announcement of the Economy Minister Pier Carlo Padoan, heard this morning from commisisoni statements gathered by the House and Senate in 2016 on Def just presented by the Government. This maneuver “will be a net debt equal to 1.8% of GDP in 2017, through the review of public spending measures, including tax expenditures and interventions that enhance the performance, reducing margins evasion and evasion of taxes.”

in 2016, yet growth and consolidation of Economy
the Minister has since said ottimistra on the recovery in 2015, “after 3 consecutive years of contraction ‘l’ Italian economy “began to grow again,” and in 2016 “the growth will continue and be strengthened.” “The occupation improves, the public finances improve, the tax burden falls”, the minister added, thanks to “a strict fiscal policy and expansionary measures and structural reforms” that continue despite the deteriorating external environment. As for the reduction of the debt-GDP ratio, this remains a priority for the government and is “critical to maintain market confidence.”

Change in structural balance compatible with Stability Pact
Illustrating parliamentarians contents of Def Padoan stressed that the expected change in the structural balance “is a detour, but not significant, but compatible with the provisions of the preventive arm ‘of the stability and growth Pact. “The medium-term objective for countries with more than 60% of GDP debt would require that the balance would improve by 0.5 percentage points: the government deems inappropriate and counterproductive to make a further strict fiscal tightening,” said the minister, within a framework of programmatic strengthening of the recovery. The structural balance, according to new forecasts would be higher by about 0.7 percentage points: in this sense the latest indication of the European Commission “should be reconsidered taking into account the requests within the maximum limits of flexibility according to the agreement between countries and approved by Ecofin. “

structural reforms ‘unsatisfactory’ in many EU countries
” Italy is the European Union country that so far has made greater use the Juncker Plan ‘for the revival of investment, noted the Minister, however, convinced that “the pitch of the fiscal policy in the euro is restrictive,” while he called “unsatisfactory” progress in many countries in structural reforms, a front where Italy is instead making great efforts. Overall, the macroeconomic scenario outlined by the government in Def “takes account of the worsening international economic situation.” The global economic slowdown has been mentioned by observers, analysts and institutions as one of the risks to the prospects of Italian growth in 2016. (ANSA).

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