Padoan, the deficit on the descent in each case – Milano Finanza

In the next manoeuvre, the government will focus resources in support of growth and in favour of the weaker sections but also for businesses, for public and private investment and productivity. He stated today the minister of Economy, Pier Carlo Padoan, referring to the comparison with Europe to increase in the next year the deficit of up to 0.4% to fund exceptional events. “Meanwhile,” he said, “we will ask the Parliament to bring the deficit from 2% to 2.4% in order to finance the costs linked to exceptional events such as the consequences of the earthquake and the immigration. We will do this in agreement with the european authorities”.

“we don’t have to worry about,” continued the minister, “for the largest increase in the expected public deficit in 2017″. One must therefore not focus too much on the deterioration of the data with respect to those of last spring. “The important fact is that the deficit continues to come down compared to previous years and will continue to do so,” he observed.

to the minister For the revision of the estimates on growth and the public finance balances is the result of the international situation deteriorated with lower growth and lower inflation. Yesterday the government has cut gdp estimates for this year from 1.2% to 0.8%, and in 2017 from 1.4% to 1%. The deficit/gdp ratio will amount to 2.4% this year and down 2% the next, with a possible extension of a further 0,4%.

“there Remains uncertainty on the roof”, stressed today, economists at Intesa Sanpaolo , “in view of the necessity to cover the safeguard clauses, as well as fund the new measures. In addition, the balances of the manoeuvre must still be agreed with the european union”. The experts have then remembered that on the 12th of July had been asked to Italy a correction of 0.6% of gdp in 2017, as well as timely implementation of the program of privatisation, the transfer of the tax burden from production factors to consumption and assets. The Commission had also suggested the reduction of the fiscal incentives and the completion of the reform of the cadastre in the first half of 2017. “In summary, the margins for fiscal policy to remain tight”, concluded the expert.