the growth forecast contained in the Def are plausible but there are downside risks: to warn is the Bank of Italy that also welcomes the decline of debt but warns that the margins “are not wide. ” In addition, the tax burden has decreased but remains above the average pre-crisis. The macroeconomic scenario presented by Def “can not be said to be implausible on the basis of the current economic situation but it remains the risk of less favorable developments, ‘says the deputy director general of the Bank of Italy, Luigi Federico Signorini, at a hearing of Commissions gathered in front of the House Budget and Senate. “Geopolitical tensions – observes Signorini – may have an impact on the confidence of households and businesses. Financial markets remain subject to high volatility. ” “The assessments of the government on the growth outlook and inflation for 2016 – recalls the exponent of Bank of Italy – are located within the range of the most recent estimates of the major international forecasters and individuals who have all been revised downwards.” In particular, Signorini cites the latest projections from the International Monetary Fund to the effect that Italy’s GDP would grow between 1 and 1.2%. “If you want to maintain and strengthen the confidence of the markets, it is important to achieve over time a clear debt reduction, visible and progressive”, warns Koch palace. Bankitalia finally asked to consider “carefully the case for introducing permanent reductions in the tax wedge, for the benefit of employment growth.”
Morando: “Since 2016 the debt will come down ‘
” the 2016 will be the year in which the overall volume of the Italian public debt will start to fall after a 2015 in which has not grown significantly for the first time in many years, “replies the Economy Deputy Minister Enrico Morando from Genoa. “The goal is to arrive in the next few years to the much lower levels of overall public debt volume – explains – Today We benefit of a situation of very low interest rates, largely thanks to the ECB’s policy, but the situation will not be eternal, when the trend will reverse ‘, we’ll be ready. ” Morando replica Bankitalia also on the tax burden “too high”: “The Government has made a commitment to reduce in particular the tax burden on labor and on the company by the Legislature, we started with 80 Euros, and Irap IRES, now we want to continue reducing taxes on labor or fiscalizzando social security contributions or reducing the rate Irpef “. “In 2016 we will decide whether and how to introduce new forms of flexibility in output for pensions, for now we have not decided, so far there are only hypotheses,” he adds.
Confindustria: ‘unsatisfactory Growth’
But Bank of Italy is not the only to goad the government. Confindustria also speaks of stresses that, ‘as realistic and acceptable as forecasts, these growth rates appear unsatisfactory to restore pre-crisis employment levels and income, heal the wounds in the social fabric, including the expansion of poverty. It should focus on higher growth and make every effort to reach it. ” The process of reform initiated by the government “can neither stop nor slow down now – said the head of Confindustria Luca Paolazzi- Study Centre Among the advanced countries, Italy, in view of the most negative performance during the crisis and in the previous decade, most of others can benefit in terms of increase in potential GDP. ” The reforms, however, emphasizes the avenue of Astronomy, “not just announce them nor approve in parliament: they must be implemented. It is the implementation deficit that is most lacking for too many years in Italy. ”
Cgil, Cisl and Uil: less taxes and more growth
Urge less taxes and more growth in the trade unions, from the CISL, which “does not ask the Government to stop the virtuous process of recovery of public finances or does not meet its commitments but rather to engage against European Union to overcome the oppressive constraints of the fiscal compact, which end up imposing austerity policies, and to bargain wider margins of flexibility to determine a stronger and lasting growth. ” The harder the CGIL, that “what the Economy Ministry proposes with Def 2016 an economic policy to remain in crisis”, or a “too optimistic policy and unambitious.” Despite the lack of recovery, Italian and European, deflation and worsening of the international environment, “is confirmed the economic strategy adopted by the Government for three years now, by measures of consolidation of public finances at the expense of an expansionary policy,” notes the union led by Susanna Camusso. He speaks of “very disappointing Document» Uil, which speaks of “cautious tone” of the government, as we should “focus on a plan for at least three years up to encourage public and private investment.” All three major unions, then, flunk the possibility to touch the second-level bargaining: an intervention that “is likely to alter the balance of the structure of industrial relations in the country, built into a logical system in which the roles of contractual levels are quite distinct and dedicated. ”
Abi “positive efforts”
Positive instead of ABI judgment: “Italy is among the few countries which, with its reform program, aims to support the monetary policies with policies to revitalize investment. This effort of the country – and therefore the action of the Government – joins the monetary policy and is achieving positive results, “said the director general of the bank Giovanni Sabatini, at the end of the hearing on the Boards of Def House Budget and Senate.
April 18, 2016 (modified April 18, 2016 | 21:47)
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