Estimates of the benefits for the Italian economy from the resources of the Recovery Fund are difficult to quantify and "the uncertainty is very high".
But "it can nevertheless be affirmed with reasonable certainty that these benefits could be very significant for our country".
This was stated by the Bank of Italy in a hearing with the budget committee of the Chamber which in any case simulated, with its econometric model, two scenarios which foresee, in the most favorable one, a cumulative increase in the level of GDP of about 3 percentage points by 2025 . "Both scenarios - explains the central institute - assume that the funds available for Italy, which are assumed to be 120 billion for loans and 87 for transfers, are used fully and without inefficiencies, with a distribution of expenditure uniform in the five-year period 2021-2025 ".
The Bank of Italy therefore warns that in view of the arrival of resources from the European Recovery Fund, Italy is called upon to "make an extraordinary effort in planning activities and a capacity for realization that the country has not always shown to possess" .