ROMA (ITALPRESS) – “In the last five years the Italian economy has shown a remarkable capacity for resistance and adaptation, growing more than in the five years before the pandemic and in line with the rest of the euro area. The Mezzogiorno has contributed significantly, interrupting a long phase of retraction with respect to the rest of the country: since 2019 its product has increased by 8%, against 5 of the North Center”. This is said by the Governor of the Bank of Italy, Fabio Panetta, on the occasion of the celebration of the 101st World Day of Saving organized by Acre. “Economic policies adopted after the pandemic and during the energy crisis – together with the funds of the Next Generation EU program – have attenuated the impact of shocks on the incomes of families and enterprises and supported productive activity. But this estate also reflects the fruits of productive restructuring and reforms initiated after the sovereign debt crisis,” he added.
“In recent years Italy has maintained a prudent management of public finances. With the exhaustion of extraordinary measures, net debt has been drastically reduced: it has more than halved last year and, according to the estimates of the Government, in 2025 should fall to 3% of GDP. The primary balance is back positive and should rise to 0.9% while public investments remain on high levels in relation to the product“, says Panetta.
“The economic estate, the credibility of public finance goals and the prudence in the management of accounts has strengthened confidence in the country’s prospects. The performance differential between Italian and German ten-year titles has decreased by about 100 base points over the last two years. The judgment of major rating agencies has also improved, despite the difficult geopolitical context. There are spaces for further improvements. These are developments that must be consolidated, continuing with determination in the direction taken,” he explains.
“Today, with the inflation back under control, we are in a complex international context: geopolitical tensions and conflicts that we thought were overcome, while the new protectionist thrusts hinder trade and economic cooperation. A climate of fragmentation and uncertainty is strengthened where the contrast tends to prevail over dialogue and collaboration. In this scenario the priority is clear: continue with determination a solid and lasting growth based on investments, innovation and productivity”.
“Italy has proven to be able to deal with economic difficulties and to be able to renew itself. We must value this force by investing in human and technological capital, supporting productivity and competitiveness, strengthening the confidence of citizens and markets. The solidity of the production system and the transition to an increasingly digital economy provide the basis for doing so”
“Looking at the future, the budgetary policy will have to take into account the ageing of the population and the new commitments on defence by supporting production capacity. It is essential to increase the rate of growth of the economy by more than 1% on which we seem to be absent, preparing the ground for the stage in which the funds of the National Recovery and Resilience Plan (PNRR) will no longer be available.
DAZI, “ACCORDO UE-USA HA RIDOTTO INCERTEZZA”
“The competitiveness of Italian companies cannot be achieved, especially in the light of current trade tensions and the uncertain prospects of global demand. The recent agreement between the European Union and the United States has reduced uncertainty over the framework of bilateral customs relations, but has also resulted in a significant increase, from 2 to 16%, of actual average duties on European exports. According to our evaluations, the direct effects for Italian exporters and their subsidiaries remain largely limited, thanks to the strengths just mentioned. However, the effects that focus on individual sectors or territories should not be underestimated, nor indirect ones -observe -. In the first seven months of this year Chinese exports to the United States fell by 43 billion euros compared to the same period of 2024, while those to Europe increased by 34 billion”.
“Although it is not extraordinary, it is a significant growth, which affects to a large extent the sectors to advanced technology and confirms the risk – already reported in the past – of a wide redirection of Chinese productions towards our markets. This adds the appreciation of the euro, which is significantly eroding the price competitiveness of European products,” he adds.
BANCHE, “UTILIZZINO RISORSE PER RAFFORZARE CRESCITA”
“The Italian banking system is in the solid, well-funded and today one of the most profitable in Europe. Credit risks remain limited, thanks also to the good financial conditions of enterprises. It contributes to the wide use of loans granted by the State, still equal to a quarter of those to enterprises. Revenues continue to grow, despite falling interest rates, confirming the ability of intermediaries to adapt and diversify their business. These steps have fueled concentration operations that have affected the banking system in recent months. Those realized must strengthen the intermediaries, further increase their efficiency and enhance the ability to offer better services and closer to the needs of customers,” he adds.
“The Italian banking system is solid, but “the context in which banks operate is not without risks. The international economy remains fragile and financial markets may undergo abrupt adjustment in relation to sudden shocks. It is therefore important that banks use the resources generated at this favourable stage to strengthen the ability to address unfavorable scenarios, continue investing in technology and cybersecurity and, above all, support the growth of the economy.”.
– Photo IPA Agency –
(ITALPRESS).
