GDP, Franco: “Recovery equal to or above 5% in 2021 achievable”

“In the second quarter, economic growth of close to 2% is estimated”, while in 2021 “a recovery of 5% or more appears achievable”. Economy Minister Daniele Franco reiterated this at the ABI Assembly. Italy could recover pre-crisis levels of economic activity “by the third quarter of 2022,” he said. The minister then explained that with the investments and reforms envisaged by the NRP, potential growth could rise to 1.4%, from the previous estimate of 0.6%. According to Franco, “fiscal policy will remain expansionary throughout 2021 and 2022”. For Franco, “the main challenge for the country’s economic policy is to overcome the long stagnation that preceded the pandemic crisis by catching up” with other European countries. The easing of the restrictive measures has allowed the recovery and the recovery of consumption could “give an important boost to growth starting from the third quarter”, he added, warning that however “attention remains high for the diffusion of variants: risks to be managed promptly to avoid the introduction of new distancing measures “. Finally, the minister noted that the current recovery is characterized by a significant “heterogeneity” between the productive sectors. The government will carefully evaluate the evolution of the situation and the effectiveness of the measures adopted “for businesses”, integrating and strengthening them where necessary “. Minister Franco explained. “As for businesses, also for families – he added – we will continue to follow the ability to meet financial commitments” and “to support them if necessary”.

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