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Two years to return to GDP prior to the epidemic

2020-04-07T08:09:47.668Z


With the stop of activities until May 270 billion of business turnover will be lost in 2021 (ANSA)


The Italian economy will need two years to return to the estimated GDP levels up to last January, that is, to the pre-Coronavirus levels. This is what is indicated by the focus of Censis and Confcooperative, "The epochal shock: businesses and work in the test of the lockdown economy", considering a closure of activities until May, with a return to normal within two months. Making a hypothesis of an impact on turnover in 2021, the scenario imputes the Covid-19 shock "a lack of value production by companies exceeding 270 billion".

Just over half of the companies and their workers have not stopped, reports the focus. "Somehow Phase 2 starts from here, but it must be nourished with courage and decision", comments the president of Confcooperative, Maurizio Gardini. In particular, according to the elaboration, the suspension measures stopped 2.3 million enterprises in industry and services (48.2% of the total), whose weight in terms of turnover in one year is equal to 1,321 billions of euros (42.4% of the total turnover of industry and services). Active companies are 2.47 million, with almost 9.4 million workers. Workers stopped 7.3 million, (out of a total of 16.7 million employees). "Despite everything, the glass should be seen half full, because the right containment measures for the coronarivus have not blocked the entire economy", says Gardini, underlining the "fundamental contribution" of the cooperatives, which "do not delocalise, but create work and wealth in Italy".

"In conditions of extraordinary urgency, the system requires extraordinary, courageous and above all fast measures that make it possible not to turn off the engines, otherwise we risk, when the emergency will have passed, to leave a million businesses on the carpet". This was stated by the president of Confcooperative, Maurizio Gardini, summarizing the picture that is looming for the Italian economy.

Hence the need to put in place "mechanisms that guarantee immediate liquidity for all companies", he underlines. "The engines of the entrepreneurial system must be kept on - he continues - to allow the restart as soon as possible and to seek the necessary rebound for our GDP. Otherwise we risk leaving this lockdown leaving at least 20% of the companies on the carpet, slightly less of one million SMEs, with indescribable consequences in terms of turnover, employment and social standing in the country ". And, speaking of liquidity, "all the PA's debts must be paid", Gardini points out.

Source: ansa

All life articles on 2020-04-07

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