DEF, the government cuts its growth forecast and return the debt – The Messenger

 (AGI) – The Italian economy in 2016 will grow at a 1.2% rate this year, below 1.6% indicated in the previous government estimates. This was revealed by the DEF draft, prepared to be examined this evening at the Council of Ministers. According to the executive’s forecasts, the Italian GDP should then accelerate to 1.4% in 2017 (below 1.6% previously indicated) and 1.5% in 2018, to stabilize cover 1 , 4% in 2019. the update note to the DEF, which had arrived some anticipation this morning, so incorporating the impact on the economy of deflationary pressures affecting the entire Eurozone, updating also the return of the debt forecast, now scheduled declining to 132.4% of GDP (in the initial forecasts had indicated to 131.4%) from 132.7% in 2015. the document prepared by the Ministry of economy, confirming the strategic objective of improving public finances even for 2019 indicates a reduction in the debt / GDP ratio to 124.3%. As for the deficit, the goal of deficit reduction indicates an improvement this year to 2.3% from 2.6%. And ‘then expected to drop further to 1.8% in 2017 to reach the goal of “a slight surplus” in 2019. These improvements will be favored by higher revenues (+ 0.5% a year), the extension the spending review and the privatization plan, which will start with ENAV (in 2015 privatizations have yielded 6.5 billion, equal to more dlelo 0.4% of GDP). The deficit indicated for 2016 would be below 2.4% estimated in the Stability Law and is still the subject of negotiations with the EU on the issue of flexibility permitted in Rome. The government had to pass the request for a margin for reform (0.5%), another for investments (0.3%) and refugee clause, which would provide additional flexibility by 0.2% and is Italy considered one of the “exceptional circumstances” provided for in the European Pact. “The government considers it inappropriate and counterproductive to adopt a tighter pitch of fiscal policy”, reiterates the premise to update the DEF Note, signed by the Minister of? Economics Pier Carlo Padoan, who stood up in this way against the austerity policy more push, solicited by countries such as Germany and other northern European.
 

 04/08/2016 18:15:04

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