growth could exceed 1%, we will not tax the banks – Corriere.it

Italy, in terms of economic growth, can still surprise. This was reported by the Minister of Economy, Giancarlo Giorgetti, who spoke via videoconference at Bloomberg’s “Italy Capital Markets Forum” event. On 2023 the indicated growth of 0.9% our target between 1.2 and 1.4 – he said -, while in our budget projections we have put only 1%, confirming an ultra-prudent, ultra-realistic approach to public finance. He then said he was confident that we will have to achieve the results we have just mentioned. In detail, he then explained: We expect a slowdown in the results of the industry, also because it is very correlated to the German economy, but our belief and our hope that the performance of the services sector, especially tourism, in the next six months compensate for this type of decline. I am optimistic that we can achieve these results as long as we remain cautious.

The funding of the Pnrr

The minister then spoke of funding under the National Recovery and Resilience Plan. I don’t want to give up anything if the Pnrr funds are convenient – ​​he underlined -. We have to evaluate which investments are the most productive in terms of growth capacity for the country and if any projects are no longer current, we have to review them. A possible bankruptcy of Italy would be a blow to its image, he reiterated, adding that the European Commission also has an interest in Italy investing and moving well. Let’s get out of the political debate in this clash between Italian and European bureaucracy. He also confirmed that the funds are there – added Giorgetti – the subjects who are the majority remain and remain. As happened in the past – he underlined – two loans linked to stadiums were excluded and with the resources saved we can put them in the energy transition.

The banking system and Stellantis

Speaking on the Italian banking system, Giorgetti defined it as solid, but which must also demonstrate more flexibility on current account returns. He underlined: We are not planning any taxation on the extra profits of credit institutions. The candidacy for the leadership of the EIB (European Investment Bank) of the ex-minister of the Economy Daniele Franco is solid and of high standing – he commented -. Italy will enter this race with a worthy candidate. As for Ignazio Visco’s successor at the Bank of Italy, we have the name in mind but I prefer to leave it to the newspapers. Regarding the Stellantis issue, he ruled out the need for the Italian state to join the group. I don’t know if France has more say than the Italian government in Stellantis – he added -. The automotive group has demonstrated the capacity for great economic results and I think due to my political culture that the state should only intervene when the market fails and to protect national strategic interests.