The highest debt in the past 100 years. And the double-digit deficit was unheard of even in the crises of 2008 and 2011. But the government intends to use all maneuverability to deal with Covid’s emergency and is ready to go. , with a new pump of 40 billion, for oxygen supply. for companies with more than half the resources and testing new ways to help young people, among those most affected by the crisis, start with tax breaks on mortgages home first. After an unprecedented two-day council of ministers, not without some tension, the Draghi government gave the first Economic and Financial Act accompanied by a maximum deficit requirement: 40 Billions will be used to finance new finance. business orientation and VAT, then also support from families and staff.
Signaling the government is “growing,” the prime minister told his ministers, confirming his intention to maintain “an open vision for businesses and the economy”. And since there is still time to give money rather than ask for it, Prime Minister and Economy Minister Daniele Franco has proposed a macroeconomic framework that is certainly still affected by the negative effects of the pandemic but is aimed at accelerating the rhythm of “unprecedented” growth. By 2021, it is estimated that GDP will increase from 6% to 4.5%, based on the gradual relaxation of measures, including a gap starting in the summer. However, the forecast is nearly halved, to + 2.7%, if the vaccines prove ineffective with the variants. To push GDP above 4.1% this year would be both double bias, with the next decree worth + 0.6% between now and the second half of 2022, and the launch of the Recovery Plan, no including reforms. However, for personal income tax, there is some delay in the schedule, given that the second half of the year is indicated for its “definition”. However, the effort to expand will bring the deficit from 9.5% to 11.8% while debt will reach 160% (159.8%), a record since the first post-war period. The unemployment rate will also increase by three decimal places by 2021, to 9.6% and then decrease again starting next year.
Government focuses on “economic growth target”: with the new budget variance and the authorization of an additional 40 billion deficit, a contingency will be financed based on the “broader vision for businesses and the economy”. According to what learned from the various participants in the meeting, Prime Minister Mario Draghi on the Council of Ministers, who was part of the discussion on Def and the next budget gap, said so.
Seeking “unity”, Mario Draghi. Start meeting with all parliamentary groups on Restoration plans with the M5s and Lega, in the wake of the launch of the $ 191 billion plan to be sent to Brussels on October 30. The parties asked him to have a say, to present specific proposals on the subject of their flag, presented with Statement of openness and subsequent decree with support for businesses. The Prime Minister noted and promised to listen, emphasize the government’s expansion policy and illustrate the plan’s general lines. However, more and more discontent and friction emerged, inside and outside the parties of the majority. Matteo Salvini did not appear in the meeting with the prime minister and rumors of disagreement, strongly denied by the Federation, when Giancarlo Giorgetti returned to circulate. Sources from the Via Bellerio party pointed out that there was no problem between the two. Democrats have called for more collectivity, which shows that the party does not like League tournaments, starting with those against Roberto Speranza. “We are a united government, we must maintain unity, not be bitter or controversial,” Draghi told the Northern League. The head is grappling with the final ‘marathon’ to launch the “monstrous” plan to spend European funds: Portugal, France, Spain and Greece are ready to present the project next week and Italy must do it quickly, so as not to lose the “return” in the first delivery of funds in July (up to 27 billion, for our country). But the parties and local authorities are asking for their voices, also with new meetings on the final version of the text, to be presented at the Council of Ministers next week and the prime minister will illustrate. rooms on April 26 and 27, as Minister Enrico Giovannini explained, 50 billion was for infrastructure only, with a strong push to the South.