Gentiloni promotes DEF: setting seems “realistic and prudent”

Gentiloni promotes DEF setting seems realistic and prudent

(Tiper Stock Exchange) –
On the nnew tranche of funds from the PNRR “we have agreed with the Italian authorities to have the disbursement postponed by a few weeks. It is not an extraordinary thing, we have agreed the same thing with several other countries, including Spain. What is crucial is not this disbursement, which will occur, we are checking some remaining issues, but obviously the size of the program in support of the Italian recovery which, being so large, makes the joint commitment of Rome and Brussels very important if you want to implement it “. This was stated by the European Commissioner for the Economy, Paul Gentiloni, interviewed by CNBC during the spring meetings of the IMF and the World Bank in Washington. “Implementing this plan – he added – is the only way if we want to have less subdued growth in the next two years. So it’s really in the interest of Italy and Europe.”

Gentiloni was also asked about DEF: “An evaluation like this, in principle, reading the newspapers, is an evaluation I think of a realistic and prudent approach, but obviously we will go into the merits a little more when we receive it”. “Of course we have not formally received any documents yet so we cannot give evaluations formal,” he said.

In fact, yesterday came the green light in the Council of Ministers to the DEF 2023 which – as stated in the note from the MEF “takes into account a framework economic-financial which, despite the recent easing of the negative effects deriving from the pandemic and the high energy price, remains uncertain and risky due to the war in Ukraine, high geopolitical tensions, the rise in interest rates but also due to the emergence of localized crises in the international banking and financial system”.

In the trend scenario to current legislation contained in Def, GDP is expected to grow by 0.9% in 2023 (at 1% in the programmatic framework). The GDP trend for 2024 is 1.4% (1.5% planned), 1.3% in 2025 and 1.1% in 2026 (same percentages in the planned). The Mef makes it known in a note. The data relating to 2023, it should be noted that it has been revised upwards compared to the November Dpb, in which growth for 2023 was set at 0.6%.

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