The Italian economy "from the spring with the gradual improvement of the health framework should regain" vigor "after the slowdown in recent months due to infections. This was stated by the governor of the Bank of Italy
Ignazio Visco
at Parma's Forex, according to which GDP growth "it would approach 4% on average this year and then diminish over the next two".
PUBLIC DEBT
- "The marked recovery of the economy was decisive in stopping the increase in the ratio between public debt and product, which at the end of 2021 could have fallen to values close to 150 per cent (from about 156 per cent reached in 2020), says Visco. "It is a much lower level than expected at the beginning of last year and also according to the official assessments published in the autumn", stressing the importance "of growth for the reduction of debt.
BANKS
- Italian banks have a solid balance sheet overall and credit quality has continued to improve, also benefiting from the support measures ", affirms the governor of the Bank of Italy according to which, however," however, cases of fragility remain mainly at small and medium-sized banks and with a traditional business model ". Visco underlined that for some banks, the supervision required" Promptly assess every option aimed at preventing deterioration and returning to full sustainability paths ".
AD HOC MEASURES
- The Governor of the Bank of Italy Ignazio Visco welcomes targeted interventions on expensive bills or on individual sectors in difficulty but says no to general "generalized stimulus" measures that would determine tensions on prices and risks "for the balance of public accounts ".
Visco explained how "limited interventions of an emergency nature can still find justification, for example to deal with the energy crisis or in cases where infections continue to hinder consumption and production, such as in services related to tourism, catering, leisure" .
THE FUTURE
- "We must begin to think about a future to be consolidated and in which we must all participate with optimism with an attempt to build the new which is actually in our hands", said the governor of the Bank of Italy, recalling how 10 years ago, in his first speech to the association in the Emilian city, the picture was of a serious crisis and recession in the country.
Now he has said in the face of the pandemic crisis "the Italian economy is better equipped and the banks are not the cause but they have helped".
(ANSA) - PARMA, 12 FEB - "The marked recovery of the economy was decisive in stopping the increase in the ratio between public debt and product, which at the end of 2021 could have dropped to values close to 150 per cent (from about 156 per cent reached in 2020) ".
This was stated by the governor of the Bank of Italy Ignazio Visco at the Forex in Parma.
This is "a much lower level than expected at the beginning of last year and also according to the official assessments published in the autumn", he noted, underlining the importance "of growth for the decline in debt. (ANSA).