Gualtieri: "The maneuver is ambitious, worth around 39 billion and over 70 as an expansive stimulus"

• Gualtieri: Berlusconi's willingness to collaborate is positive

• Gualtieri increases the provision for automatic refreshments by 1.5 billion

• Gualtieri: "The debt is 'canceled' with growth, we aim for the fiscal 'whatever it takes'"

• Maneuver, Gualtieri: "Central priorities for health, education, research and culture"

Share

November 23, 2020 "The maneuver implements a significant budget expansion of approximately 39 billion: 24.6 billion with the measures in the context of the greater deficit and a further 14.5 through the use of the resources of the Next generation Eu".

The Minister of the Economy, Roberto Gualtieri, in a hearing on the maneuver before the budget committees meeting in the Chamber, said that it is an "ambitious" maneuver.

In the interventions of the budget law, there are "over 70 billion of expansionary stimulus, net of the further deviation".

"We are ready to confront the political forces who want to have a constructive approach in Parliament, starting with the measures to postpone tax deadlines and other possible measures, which can be included in the new Ristori decree, the fourth".

"The path already indicated in the update note of the Def 2020 remains confirmed for the next three years of programming", added the minister.

"It is clear that the most recent developments involve a downward revision of GDP, however we do not believe that the possible fall in GDP in the fourth quarter of 2020 would be of such proportions as to impact the current results to a macroscopic extent".

"To continue with the gradual approach followed so far and finance the support interventions necessary to cover the last part of the year and make more immediate and timely refreshments possible, the government presents a new report to the Chambers, with which asks for the recourse to the debt of 8 billion over 2020 and 5 billion net to finance from the state budget ", Gualtieri said.

"This request was made in the face of an improving financial trend scenario, in particular the data show that spending is much lower than expected due to lower disbursements of intermediate consumption", he added, "revenues are substantially in in line with forecasts ".

Once the green light has been given to the budget deviation, the Government will enact the Dl Ristori 'quater' with measures in favor "not only to the sectors subject to the restrictive measures but to all the economic sectors that will have had losses". 

"Risks to a decline in GDP in the short term are expected but we do not believe that it will be such as to impact the results in a macroscopic way", against a forecast of a fall in GDP of 9% in 2020, " there is room for a cyclical fall in the fourth quarter of up to 4%, that is, up to a 4% contraction, a 9% fall in GDP would be maintained "this year: the minister added, specifying that" it would occur in 2021 a more negative carry-over effect, but the annual result will depend on the extent and timing of the rebound once "the situation after the pandemic, in this sense" is back under control, the news on vaccines is encouraging. At the beginning of the year the government will consider the opportunity to revise the economy's growth forecast in 2021, "he said.

"We are constantly working to mitigate the effects" of the pandemic and "support the categories that suffer the most to help them face these difficult months ahead", said the Minister of Economy.

"It is the government's belief that the best strategy is to contain the virus, it is the only way not only to save lives but also to regain the necessary confidence and restore normal economic conditions".