Stability pact, Giorgetti’s anger: “It’s not what we wanted”
The EU has targeted Italythe new Stability pact penalizes our country, due to the “monster” public debt. Gone are the years on the brink of deflation and those of pandemicwho had brought the Bce to support Italy’s debt. It is hoped that the shocks – Covid itself, the energy crisis – that had led to are also in the past suspend the rules budgetary budgets. “It’s a step forward – said the minister hotly Giorgetti and Corriere della Sera reports it – but we had asked the exclusion from the investment expensesincluding those typical of Pnrr are digital e green transition, from the calculation of the target expenses on which compliance with the parameters is measured. We note that this is not the case. The new Stability Pact imposes a rigorous review of (public ed.) spending, of all spending, including investments“.
The reason – continues the Corriere – is in the rules proposed by Bruxellesat least these well seen a Berlin: on the basis of them public expenditure will be able grow in percentage terms in coming years, essentially less than the entire economy has grown in past years; and since Italy has hardly grown in the past decade, spending should stay put very compressed and cuts on other items would be needed if investments were to be made. Giorgetti observes: “The spending review it should also concern Pnrr investments that have an impact on goals“. Giorgetti is not convinced. In private he wondered who brought these numbers out of Brussels, which are not in the documents. And in the end he finds bit serious that a jumble of figures has already started, before the EU proposals are discussed among the governments who must approve them. It’s not a small detail, because everyone agrees it will not be easy. Nor is it excluded that go towards 2024in full European campaignwithout agreement.
Subscribe to the newsletter