MILANO – Green light of the government to the update note to Def. The text was approved by the council of ministers meeting this morning, after the main numbers had already emerged during yesterday’s control room. For the current year, the government expects growth of 6%, well beyond what was assumed in April, while for next year, against a GDP trend of 4.2%, it is estimated that the measures that the government will implement starting from the Budget Law they will raise the growth bar to 4.7%. For these, the government expects to leverage for next year on a slight increase in the deficit, which will go from 4.4% to 5.6%. A deviation of a greater deficit, equal to about 22 billion, available to finance the measures of the next budget law
GLOSSARY – What is the update note to the Def
Deficit and debt down
The improvement in the growth figure, the denominator of the main public finance indicators, therefore pushes the deficit / GDP and debt / GDP ratio down. The first is expected to drop to 9.4% from the 11.8% estimated in the Def, with a marked decline in 2022 with the 5.6% mentioned above, in 2023 (3.9%) and in 2024 (3.3 %). As for the debt, explains the draft of the document under discussion, the decline “will be more gradual compared to the trend scenario, but significant, since it will go from the 153.5 per cent forecast for this year to 146.1 per cent in 2024” .
In the maneuver 18 billion more to push growth
by Valentina Conte
Go to the IRPEF reform and single check in full regime
The document already sets out what some of the government’s priority measures will be. “The fiscal policy interventions that the government intends to adopt determine a strengthening of the expansionary dynamics of GDP in the current year and in the following year. In particular, the confirmation of unchanged policies and the renewal of interventions in favor of SMEs and for the promotion of ‘energy efficiency and innovation. The first phase of the reform of the personal income tax and social safety nets is also launched and the single universal allowance for children is expected to be fully implemented “, reads the text.
Sangalli (Confcommercio): “Expenditure on hotels and restaurants down by 34 billion compared to 2019”
Positive numbers and in line with those communicated today by Confcommercio in its annual meeting. The association expects growth of 5.9% for this year and 4.3% the next but has highlighted how some sectors will close the year with a heavy drop compared to the pre-Covid period. “Spending on hotels, bars and restaurants will still be around 34 billion euros lower at the end of 2021 than in 2019,” said the president. Carlo Sangalli, to the assembly of the confederation, adding that “in the first six months of this year, the overall presences are still 115 million lower than in 2019 and, of these, 77 million are absences of foreign tourists”.
On the tax office and land registry, the center-right slows Draghi
by Tommaso Ciriaco
.