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«A possible rate cut by the summer is good news for everyone, not only for Italian debt, also for all families who have a mortgage, for businesses that need to invest, so the sooner the cut arrives the better» . Minister Giancarlo Giorgetti said this while speaking to the Italian press on the sidelines of the World Economic Forum in Davos.
Giorgetti: satisfied partners, perhaps they will invest more
«We met our partners, in particular those international entities that invest in our country. They expressed satisfaction and maybe they will invest even more. So the reason for being here is to update and give a direct firsthand indication of what is happening in Italy and also to their investments” explained the Minister of Economy Giancarlo Giorgetti, on the sidelines of the bilateral meetings at the World Economic Forum.
«Many interested in producing in the former Ilva»
An example for everyone. «On the former Ilva we are doing our utmost to clarify things because to make green steel we need a lot of investments and therefore we need partners who will make them together with us. This is the moment for clarity” said Giorgetti, explaining that “at this moment there is a partner who has not yet clarified his position”, but “there are many interested in producing in Taranto, the largest steel production site European”. And again: «We want partners who share this great ambition of producing steel in Italy but in an environmentally compatible way»
«Investors interested in privatizations»
As for the operations “that we have started, from Monte dei Paschi to even very complex operations such as Tim’s netco, they have recorded widespread satisfaction” among international investors, just as they were also said to be “very interested” in the privatization plan. «These are the first steps of a plan that we confirm is very ambitious, but as I have reiterated several times to our interlocutors, on our side we have a stable government, a strong majority which is probably unique in Europe and everyone has ascertained this and valued”
«The Red Sea crisis is worrying, a problem for inflation»
The minister also spoke about the Red Sea crisis, which “worries everyone, including us because we are in the Mediterranean and the Mediterranean ports are the first to be damaged by these bottlenecks” which could also be “a problem for inflation”. Giorgetti added that he had spoken about it with the Saudi and Qatari Arab ministers, «and just think that Qatar’s supplies must pass through the Cape of Good Hope to get here instead of passing through Suez. This is also a problem for inflation because we have more or less managed to eradicate it but if freight transport costs go crazy again like three years ago the consequence will inevitably be there”, he explained. But there will be no problems with gas: «The level of gas storage is such that we have an energy security situation», he commented.