For Ignazio Visco, “improvements to the Pnrr are possible”, but “in the search for possible modifications, however, it is necessary to take into account the tight program agreed with the European authorities”. The Governor of the Bank of Italy said Visco, in the course of his Final Considerations, recalling how “the continuous dialogue with the Commission is absolutely necessary, in addition to being useful and constructive”. Regarding the accounts, Visco stated that “in the first quarter of this year, economic growth once again exceeded expectations. For 2023, the forecasts available today converge to an increase in the product in the order of one percent”, Visco also said.
“The recovery – he indicated – was more pronounced in construction, supported by tax incentives for the requalification of the building stock, and in services, which again expanded significantly with the overcoming of measures to combat the spread of infections. difficulties of the year, the Manufacturing production also averaged 2019 levels.” Furthermore, continued Visco, “the renewed vitality of the economic system was manifested in the robust expansion of exports and the strong recovery of capital accumulation”.
“The risk that inflation will remain above target for too long has definitely diminished compared to the mid-2022 peak,” while demand and conditions for lending to businesses and households are tightening following ECB policy, Mistletoe explained. The governor dedicated a passage to the minimum wage: “As in other large countries, the introduction of a minimum wage, defined with the necessary balance, can respond to the not inconsiderable needs of social justice”. “Too many, not only among young people, do not have a regular job or, despite having it, adequate contractual conditions are not recognized”, he said.
Source: IL Tempo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
