(Teleborsa) – The development of the capital markets union remains “an absolute and urgent priority which will remain at the center of the political action of the next Commission”. This was stated by the European Commissioner for Economy, Paolo Gentiloni, in a video message to Febaf’s Rome Investment Forum. “To fill the investment gap in security, nIn the green and digital and social transition, the involvement and investment of private savings will be fundamental. From this perspective, the innovation and investment capacity of companies will be decisive, just as the role of banks will be essential”, says the commissioner.
With reference to our country and the economic forecasts updated last week by the EU commission, Gentiloni noted that after the good growth levels of past years, Italy will have levels of economic expansion “around the European average” this year and next.
“Last week I presented the forecasts for the European economy and according to these forecasts, our economy is leaving behind a very difficult year, 2023, a year of stagnation and recession in several countries, while for this year we instead expect growth albeit limited to 1%, followed by a acceleration to 1.6% next year. This partial recovery in growth is accompanied by two important positive facts, the first is the continuing decline in inflation. The second is the job market, which remains very strong. Therefore an encouraging context, even if subject to considerable geopolitical risks.”
“In this context – continued Gentiloni – the Italian economy, which has avoided recession and stagnation, has had good levels of growth in recent years, will have agrowth around the European average. Our latest forecasts estimate growth of 0.9% for Italy in 2024 and 1.1% in 2025. Italy is facing a double challenge: on the one hand the challenge of prudent budget policies, indispensable for a country with such a high debt. At the same time, the challenge is to continue with public investments that support growth and our economy.”
According to Gentiloni, precisely the reform of the Stability and Growth Pact “It will help achieve a better balance than what we had in the past, between the objective of the sustainability of public finances and the objective of growth and investments. The new rules offer the various countries greater autonomy and flexibility in designing their own budget adjustment paths, with incentives to implement investment reform plans linked to our common European priorities”.
“Between now and the autumn of this year there will be a lot of work to prepare the multi-year investment spending plans – concluded the Eurocommissioner – which each country will have to agree with the European institutions and our invitation to the governmentsi is to encourage broad dialogue with all stakeholders in the preparation of these plans.”
