Final, in 2016 GDP growth cut to 1.2%, + 1.4% in 2017 – The Messenger

and then accelerate in the following years in 2016 the Italian GDP will amount to 1.2% (against the previous 1.6% estimate). It reads a draft of the economics and finance documents (Def), the Ansa agency has seen. The real GDP is expected to grow by 1.4% in 2017, 1.5% in 2018 and finally 1.4% in 2019. Palazzo Chigi nevertheless asks to be wary of the document drafts that are circulating in these hours. The final text – add sources of government – will be given to journalists at the end of tonight cghe press conference will follow the meeting of the Council of Ministers.

“The government considers it inappropriate and counterproductive to adopt a tighter pitch of fiscal policy” we read in the introduction to the draft of Def signed by Economy Minister Pier Carlo Padoan, who points out, in addition to the risks of deflation and to ” inadequate coordination of fiscal policies, “EU, the effects ‘perverse’ too restrictive maneuvers , that could end up worse, rather than better, the path of adjustment of debt.

in 2016 the deficit-GDP ratio will fall from 2.6% to 2.3%, still says Def. In the following years additional budgetary space “will be generated by higher revenues and cost savings, achieved through an expansion of the spending review process.” In this way, the deficit will drop to 1.8% in 2017, reaching “a slight surplus” in 2019.

The deficit in 2016 was estimated at 2.4% in the stability of the law and is the subject of discussion the flexibility of the accounts in Brussels. By setting the bar at 2.4%, the Italy starting demand in Europe was to be able to get the maximum allowed on the reforms clause (0.5%), of as much as possible on that investment (0.3 %) and a further 0.2% for refugees, emergency – Rome – would fall under exceptional circumstances. For 2017 the September update Note provided for a deficit-GDP ratio to 1.1%, now revised up to 1.8%.

The Italian public debt will fall in 2016 to 132.4% from 132.7% of GDP. The descent planned in the September update note was more pronounced, with a debt forecast this year to 131.4%. “The reversal of debt dynamics – says the premise of the document signed by Pier Carlo Padoan – is a strategic objective of the government.”

In 2015, revenues from privatization amounted to more than 0,4% of GDP, more than 6.5 billion. The program for the coming years envisages revenues of 0.5% a year in 2016, 2017 and 2018, and 0.3% in 2019, says the NRP, the National Plan of reforms attached to Def. Among the transactions completed in 2015 within the transfer market with a share of the capital of Enel and the flotation of the Italian Post shares to the extent of 33.2% of the capital. For 2016 the procedures for the sale of a stake of up to 49% of the capital ENAV have been fixed. “Other transactions – it says – will be implemented during the year in line with the revenue targets. The privatization of the State or its components Railways is part of the government’s medium-term program. ”