Share
30 September 2020 The majority reaches agreement on the Update to the Def: GDP is expected to be -9% in 2020, with a rebound to + 6% in 2021. The Deficit / GDP ratio is estimated at 10.8% in 2020 , but will drop to 7% programmatic in 2021 with an expansion of 1.3 points compared to the trend, then to 4.7% programmatic in 2022, to 3% programmatic in 2023. The Debt / GDP ratio is estimated at 158% in 2020, down already in 2021 and for the next three years.
The update note with the new macroeconomic framework will be presented today in the council of ministers, the green light is expected on Sunday.
"The fall in GDP, which seemed dizzying, has diminished a bit, but that doesn't mean that we are not in trouble," said Minister Roberto Gualtieri.
"We are aware - explains Gualtieri that the impact of the coronavirus was heavy. Italy was very efficient in containing the pandemic and the government was able to intervene in a massive way also thanks to the European context".
The minister then announces a 40 billion euro maneuver for 2021. "Today we have decided the balances, the fiscal policy space: between the Recovery plan and the budget push, next year we will do 40 billion in fiscal expansion" which means "more public investments and support for private investments ", says Gualtieri.
"We have decided that next year we will make a significant fiscal expansion and we have also followed the indications that come from international institutions", the minister continues.
"The trend deficit would be 5.7% - he explains - we bring it to 7%. The owner of the Economy reiterated that we will proceed with the tax reform that will make" the system simpler, fairer, more equitable and will support more who works and who produces ".