GDP, Mangialavori: “Away with the specter of recession but politics remains cautious”

There is a “trend reversal” in GDP “the ghosts of the recession” have been banishedbut the policy of this majority marked by the “responsibility” and “caution“. Thus the chairman of the Budget Committee in the House Giuseppe Mangialavori in an interview with Adnkronos on the EU Commission’s GDP estimates which revise upwards Italian growth to 1.2% in 2023 and +1.1% in 2024 against the previous estimate of +0.8% and +1 respectively ,1%.

“The approach of this majority – he underlines – is fully based on the principle of responsibility. In a complex and unpredictable situation at an international level, with war at the door, skyrocketing inflation, constant rate hikes, bank crashes and tensions on the energy market , we must move with even greater caution than usual”. But this, observes the deputy of Forza Italia, “doesn’t prevent us from bringing home excellent results. For the first time in more than 20 years, in fact, Italy is growing more than France and Germany. And this seems to me a major inversion trendy”. “In the first quarter – he notes – the GDP recorded double the forecasts and the growth acquired for 2023 is already eight decimals. It is not difficult to imagine that the Def estimate of +1% could be exceeded. Just to get an idea, the Bank of Italy estimated only +0.3% for this year while the Monetary Fund said recession. Now, thanks to the higher growth, there could be additional resources available in the autumn, including for tax cuts. But this must be the path, that of responsibility”.

Meanwhile, “the ghosts of the recession that everyone feared just a few months ago have been banished. A great result, given that we are accelerating while the international cycle slows down”.

On the deficit front down from 4.5% in 2023 to 3.7% in 2024, Mangialavori says he is “convinced that results at the end of the year will be better than expected, even if for now it is good to be cautious”. In any case, he insists, “the drop of just one decimal is a partial figure. We need to look at a broader picture and not at accounting rules” because “we are still in a delicate phase, with families in difficulty, galloping inflation, rates that are too high. This is the moment to support the recovery”. In this sense, in the new Stability Pact “it will be essential to negotiate a framework of European rules functional to growth, because growth is the only way to reduce debt”, comments the deputy of Fi.

As for the Pnrr, “a challenge such you don’t win with a single magical blowbut several elements are needed”, he says. “There is a need to put oneself to the test, as President Mattarella said, who however also and above all stressed the need for broad collaboration” between the various state apparatuses, between Regions, Municipalities and central state, as well as between public and private and also between majority and opposition.”Obviously, some projects need to be reviewed“, underlines Mangialavori hoping that “as has already happened for other countries, the Commission will be able to agree on the changes”.