Dear energy, Franco: “Country bill towards 100 billion in 2022”

“Looking at the country’s energy bill, net energy imports go from 43 billion in 2021 to 100 billion that we could have in 2022 with an increase of about 60 billion, about 3 points of GDP, an outflow of resources from Italy to producing countries of energy “. This was stated by the Minister of Economy, Daniele Franco, speaking at the The European House – Ambrosetti forum in Cernobbio. “Which basically nullifies the surplus we had in recent years and cuts the resources at our disposal”. For Franco “it is important to try to bring the price of gas and energy back to sustainable levels”. ECONOMIC PERSPECTIVES ITALY- “We are working on a new decree, which will still limit the impact of the increase in the cost of energy on our economy; a decree that we will pass next week” he explains. “The recent past, looking at the second quarter employment and GDP data, has been relatively good, but the immediate outlook is problematic.” “The economic indicators are pointing downwards. Industrial production in June showed signs of slowing down and we have rising inflation”, he added. “There are still many things to do, a lot of concreteness is needed, but it is essential to move forward”. “I believe that – affirms the minister – in transforming every action of economic policy, it is essential to have three criteria: one concerns what are the implications for growth, that is, how this measure affects the country in 5-10-20 years; second place its financial sustainability, because a measure that is not financially sustainable does not go far. And third, even if I say something obvious, its concrete feasibility “. And therefore, he concludes, “growth, financial sustainability and concreteness.” “If we had a lower public debt, we would certainly have greater room for maneuver and flexibility. To regain these margins, it is good that the debt reduction continues”. “Last year we significantly reduced the debt-to-GDP ratio by 4.5 points. Also this year we plan to reduce the ratio by a few percentage points,” he explained. PNRR – “We come from a quarter of a century of very anemic growth. The real problem of our country is to grow steadily more in the medium term like other countries, with higher employment rates, higher investment and productivity rates. And the PNRR is crucial for all this “. “Continuing the implementation of the PNRR, I believe is fundamental; the plan will, along the way, be revised and perfected and improved, but I do not think it is conceivable to try to rewrite it. This would be only a way to completely block its implementation”. Pnrr, explains the minister, “there are implementation difficulties and there are many. First of all, and most importantly, the change that is required of our Public Administration, which is asked to be able to plan, monitor and evaluate and work on results rather than just on administrative regularity “. Another difficulty “that we have already tried to tackle with one of the decrees, is that represented by the fact that the production costs of the works are rising and therefore we should find ways of financing to allow the realization of all the works”. And therefore, “it being understood that any specific problem will have to be solved and discussed with the Commission, the fundamental message is that the plan is fully implemented in the coming years”.