Dienstag, 16.10.2018 22:19 Uhr

European economic recovery and Italy

Verantwortlicher Autor: Carlo Marino Rome, 08.01.2018, 09:08 Uhr
Nachricht/Bericht: +++ Wirtschaft und Finanzen +++ Bericht 6503x gelesen

Rome [ENA] Europe’s economy is showing promising signs of recovery, with Member States displaying positive growth and unemployment reaching its lowest level since the crisis. However, not all Member States are facing the same degree of recovery and unemployment rates are still too high in many regions of Europe, particularly among young people.There’s the necessity to foster greater convergence and inclusion.

It’s crucial to support the continuation of the recovery through both economic growth and social convergence. There ‘s a good streamlining and focus of the Country Specific Recommendations (CSRs), but there’s a concern, however, which regards the unequal degree of implementation of the CSRs. The EU Commission and the Member States have to strictly collaborate and coordinate the process in order to support structural reforms and boost investment. This policy should be improved to further increase the multiplier effect of cohesion spending and its contribution to sustainable and inclusive growth.

In addition, there’s the need to speed up the implementation of the European Structural and Investment Funds as they provide important support to structural reforms and national investment policies. The Member States ought to develop strong coordination structures to make their use more effective. The extension of the European Fund for Strategic Investments until 2020 could help boost investments. One has to underline the role of the Structural Reform Support Programme in supporting tailor-made assistance in order to help Member States carry out their reforms.

In this respect, it’s of extreme importance the progressing of the structural reforms at all levels of government and the removal of red tape surrounding ongoing investments so as to help improve the business and investment environment. In this case it’s crucial the condition for complementarities and synergies between those tools. With recent figures that show the lowest total number of births since the formation of the modern Italian state, in Italy incomes and purchasing power both rose in 2017, according to recent data of the italian national statistics agency ISTAT. But the tax burden is high. ISTAT also revealed that inflation was stable in December and public finances improved in 2017.

Italian household income rose 0.7% in the third quarter of 2017 over the second quarter and by 2.1% over the third quarter of 2016, ISTAT reported. Purchasing power rose by 0.8% and 1.1% respectively, according to the the statistics agency data. As for companies, the profits of non-financial firms was 41.3% in the third quarter, 0.4 percentage points lower than the previous quarter. The investment rate, on the other hand, were 0.5 percentage points higher at 20.7%.According to Economy Minister Pier Carlo Padoan the good data published by ISTAT "show that we're on the right track: less deficit, less tax evasion, less fiscal pressure".Finally, ISTAT declared that Italian households' inclination to save rose 0.5 points .

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