The Council of Ministers has given the green light to the update note to the Economic and Financial Document.
As already anticipated by Prime Minister Mario Draghi during his speech at the Confindustria annual meeting , the government expects growth of 6% for 2021 (4.5% was assumed in April). The higher GDP will bring the ratio of public debt to gross domestic product down to 153.5% compared to 155.6% in 2020.
The deficit should return to below 10%, while net debt in 2021 will stand at 9.4%. In 2022, the deficit will be 5.6%, falling to 3.9% in 2023 and approaching 3% in 2024 (3.3%).
Italian GDP will return to the levels prior to the Covid crisis, those of the fourth quarter of 2019, in the second quarter of 2022.
The text sets out some of the measures considered priority by the executive: "The fiscal policy interventions that the government intends to adopt determine a strengthening of the expansionary dynamics of GDP in the current year and in the following year. In particular, the confirmation of unchanged policies and the renewal of interventions in favor of SMEs and for the promotion of energy efficiency and innovation. The first phase of the IRPEF reform and social safety nets is also launched and the single universal allowance for children is expected to regime ", reads the document.
Some solutions adopted in 2020 will therefore be extended, such as the Superbonus 110% (to 2023), Transition 4.0, the strengthening of the Central Guarantee Fund for SMEs and the single allowance for children.
(Unioneonline / F)
