Between the end of 2021 and the beginning of next year "we will have a major change in retirement requirements, and the 100 quota will expire. We are aware that some economic sectors are facing difficulties, these are aspects to be taken into consideration".
Economy Minister Daniele Franco said this during a press conference on the OECD Italy Survey.
"We must discuss it in the government" but "I am confident that the executive will find a balanced solution in the next budget law".
"The economy is expected to recover to 2019 levels by the first half of 2022", after growth for this year estimated at 5.9%. "Public debt will rise to almost 160% of GDP in 2021". This is what the OECD predicts in the Economic Survey on Italy, inviting us to "continue to provide increasingly targeted fiscal support until the recovery is consolidated in the economic and employment sectors". The OECD also hopes for "a medium-term fiscal plan to be implemented once the recovery is consolidated", to "reduce the ratio of public debt to GDP".
"In Italy the level of the tax wedge is the fifth highest in the OECD area. This does not help employment, in a country where only 57% of the population is employed compared to an OECD average of 67%", said Laurence. Boone, chief economist of the OECD. "The government has recognized the impact of this situation by temporarily reducing the tax wedge for young people and women. Perhaps it should consider a permanent reduction for all workers, especially women," Boone said referring to the tax reform plan that it should be geared towards reducing tax evasion and fairness.
