Economy, Franco says: “Giorgetti my heir? Very appropriate.” Advice for Meloni

The experience of the government led by Mario Draghi comes to an end and Daniele Franco, who is the executive’s number one expert, will take stock of the balance. The Minister of Economy was interviewed by Corriere della Sera and outlined a limit after twenty months at the helm of Italy, also giving an endorsement to Giancarlo Giorgetti, destined to occupy his chair at the Mef: “We ended last year with a growth of 6.7 %, higher than we had expected. The first half of 2022 ended with an acquired growth of 3.6%. We reduced the debt/GDP ratio from 154.9% in 2020 to 150.3% in 2021 and we expect it to fall further to 145.4% at the end of this year. We managed to contain the impact of the increase in energy prices, especially on the most disadvantaged families. Meanwhile, we filled 94% of stocks, allocating 4 billion public funds for the purchase of gas”.

Franco identifies Italy’s problems: “Our country’s main problem is structural. We have grown little in a quarter of a century, less than the rest of the euro area. The key point for us is to get out of this very long stagnation. In Italy, to grow more, we need to increase private and public investment and increase the employment rate, ten points below the rest of the euro area. For this, it would be good to continue reducing the tax burden. Productivity must also be increased, which also depends on the environmental context, a central theme in the PNR reforms. Trying to increase the medium-term growth rate of the Italian economy must remain our main objective”.

“I didn’t have any requests to stay – the head of the Mef then switches to words more closely linked to politics -. I’ve known Giorgetti for several years and I think he would be perfectly suited for this role. He was chairman of the budget committee, undersecretary of the presidency of the Council and Minister of Economic Development. We have worked side by side with him in these twenty months of government. We have in common the idea that Italian economic development depends on what happens in the productive system. He will certainly do well – says Franco.

Source: IL Tempo