(ANSA) - NEW YORK, OCTOBER 20 - Italy is in a "strong recovery phase" and this is the "success of the political response" which, with the measures adopted, has protected the structure of the economy and allowed "a restart of strong economy and recovery ".
This was stated with ANSA by the director of the European Department of the IMF, Alfred Kammer, underlining that vaccines have been a "game changer" for Italy, a turning point. The IMF has revised upwards Italy's growth estimates to + 5.8% this year. Growth in 2022 is estimated at 4.2% and 1.6% in 2023. Europe, also in 2021, maintained a more expansionary budget position than expected a few months ago, in particular by stimulating investment and employment .
The prospects for 2022 are more uncertain: it is good to reorient the policies in a more selective sense, but "we call for caution to avoid any sudden shock that would derive from an early withdrawal of the expansionary measures".
On the fiscal stimulus front, "we think it is better to do a little more than necessary and longer, rather than doing less and withdrawing the measures early".
(HANDLE).