The presentation of the Bank of Italy report on the Lazio economy
The strong presence of the public sector and the blocking of layoffs, as well as the incidence of Covid not as strong as other regions, has helped the economy of Lazio in the pandemic crisis which, however, has suffered greatly due to the debacle of tourism, especially foreign. The consequences have been serious on employment, families and businesses, often small and very small that form part of the local business fabric but now the general climate is that of "a strong recovery", facilitated by vaccines, the reopening of borders and the return of tourists who already in recent weeks return to reappear in the streets of the capital. The report of the Bank of Italy dedicated to the regional economy certifies for 2020 a collapse of the GDP of 8,4% in line with the Italian figure but also underlines a significant increase in requests for pensions and citizenship income and a fall in the employment of fixed-term contracts and self-employed while there are 277 thousand young people who do not work or study on the 3 million at national level. The hotel and catering sector and services, which are very strong in the region, have paid the heaviest price since cultural tourism is the one that has suffered the worst damage and the flow of foreign tourists, especially from outside the EU, has dried up. And so if the credit moratoriums have 'frozen' the effects on bank balance sheets, there is a marked increase in the most risky loans that could not be repaid in the future.Many refer to companies that have seen revenues collapse or in sectors sent out of the market by the crisis also because Lazio cannot count (with praiseworthy exceptions) on many of those supply chains included in the production processes and suited to export.