Terzulli (Sace): ‘Resumption is important, Italy shows resilience’

After the shock on the economy imposed by the pandemic, “we have seen a recovery” and “a restart” thanks to all the fiscal measures taken and to the support “for household and business incomes”, and if in 2020 this was seen little, we are seeing it now, also thanks to the vaccination campaign. We have seen a recovery restart and an important recovery “. This was pointed out by Sace’s Chief Economist, Alessandro Terzulli, speaking at the event ‘Future forward: Italy and the future of trade’, organized by Economist with the support of Philip Morris International . And this, Terzulli underlined, “is a non-trivial aspect because we are a country that, in the last 20 years, has not shown a particular resilience to shocks while instead ‘this time seems to be different'” because “surely the rebound is stronger than expected “.” In mid-2022, for what we see today, we should have recovered what we lost in 2020 “. Italy will be able to count on” a full recovery of GDP “after the shock dictated by the pandemic. Sace’s Chief Economist, Alessandro Terzulli, speaking at the ‘Future forward: Italy and the future of trade’ event, organized by Economist with the support of Philip Morris International. He therefore invited us to consider that “at 2018-2019, at therefore the beginning of the pandemic crisis, we had not even recovered “what was lost in the global crises” of 2009 and 2012-2013 “. But now, the economist observed, “it will be a medium-long term challenge” that will be played on the ability to “raise the Italian growth potential”. “Certainly not sure to grow over 6% after 2022 but at least – said Terzulli – around 1% if we make investments well” with European funds and the reforms that will follow. “Surely today the + 6% in 2021 is within our reach and the growth of 4.5-5% for 2022, therefore a full recovery of the GDP” and “a driving force is the export which is already doing very well and it has already recovered what was lost with the pandemic, at least with reference to the export of goods, “said Terzulli.