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This article was published on 30 September 2014 at 20:36.
last modified September 30, 2014 at 21:34.
The Council of Ministers, which met with almost an hour later than the convening , scheduled for 18:30, endorsed the note to update Def, implementing the new framework for macroeconomic trend, far worse than had been expected in April. How has today put pen to paper also Istat, certifying that “the current weakness of the economic cycle” continues. But the Secretary to the Presidency of the Council, Graziano Delrio, he reiterated: “There will be no additional measure in 2014.”
GDP down by 0.3% in 2014 , deficit to 3%
The document touched down all indicators, from GDP, indicated a decrease of 0.3% (against 0.8% estimated in April) before recovering to 0.6% in 2015. In parallel, the deficit rises to the fateful 3%, without going over, before falling back to 2.9% in 2015, “The constraints are applied from Europe is fully respected,” said the Minister of Economy Pier Carlo Padoan at the end the CDM. The balanced budget sled to 2017, from 2016 expected in April. And the debt will stand at 131.6% of GDP in 2014 to 133.4 in 2015 and unemployment is estimated at 12.6% this year and again to 12.5% for 2015.
slows the adjustment of the structural balance
Padoan has recognized that “the economy has deteriorated badly.” “We are in a situation reminiscent of the so-called exceptional circumstances, negative growth
with three consecutive years of recession and rising prices close to zero, and this implies – he said – that under European rules is permissible to imagine a slowing down the process of adjustment in the structural balance that will happen in a positive measure, although reduced compared to what is imagined Def in April of this year. ”
Padoan: confirmation of stability in the law of 80 euro and cutting wedge
The minister has assured that there will be stability in the law of “space to support growth,” a reduction of the tax wedge for business “through measures yet to be specified,” the confirmation of 80 euro and measures for social safety nets. The latter, he noted, “will be covered by a combination of increases in revenues from the spending review, by some measures on the revenue side, which means no tax increases but the efficiency of revenue (the tax expenditure), and the use of margins budget. ” Measures, he added, “that we believe are sufficient to effectively initiate the reform of the labor market.” The spending review continues, Padoan said, “and will be deepened: cover tax cuts for families and businesses, but at the same time aumentarà the efficiency of public spending.”
Stability Pact internal resources for “progressive overcoming”
Padoan has confirmed that the stability law, “there will be resources for the progressive overcoming of the internal stability pact that will lead local authorities to have accounts in balance, avoiding the distortions which, unfortunately, have so far prevented a rational use of resources available to municipalities and regions. ”
Privatization, lower amount in 2014
amount of privatizations planned for this year for a total of 0.7% of GDP “will be lower, but will recover next year, “he assured the minister. “This is a complex strategy,” he said. “It should be called the best match to maximize the revenue of the state and the relationship between market openness and efficiency of the manager.”
implementing decrees, the stock goes down from 516 to 473
At the opening of the Council of Ministers, the Minister for Reforms, Maria Elena Boschi, has updated the Government on the implementation of the program. The stock of the decrees relating to the Governments Monti and Letta and dropped from 516 to 473 From CDM of September 19 were a total of 34 decrees adopted, while 17 others are believed to be superseded by subsequent legislation. The updated list is published on the website of the decrees of the Government.
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