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🇮🇹 Italy /Economy & Trade

Giorgetti says Italy’s GDP could approach 1% growth this year

From ANSA · () Italian

Translated from Italian and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire Named sources Context piece
  • Economy Minister Giancarlo Giorgetti said Italy has so far achieved 0.8% growth and could approach 1% this year.
  • He said the potential result would exceed the 0.6% growth estimate included in earlier cautious assessments and government planning documents.
  • Giorgetti called for employers to treat wages as an investment and questioned why Italian pension funds invest abroad rather than more in Italy.

Italy’s economy could grow by close to 1% this year if current indicators continue to point in the same direction, Economy Minister Giancarlo Giorgetti said at the Teha Forum in Cernobbio.

We had made cautious assessments for growth, indicating 0.6%. So far, we have achieved 0.8%. If things go as the indicators suggest, we could approach 1%, above the forecasts contained in the planning documents.

· Giancarlo GiorgettiThe economy minister revised his assessment of Italy’s possible annual growth at the Teha Forum.

“We had made cautious assessments for growth, indicating 0.6%. So far, we have achieved 0.8%. If things go as the indicators suggest, we could approach 1%, above the forecasts contained in the planning documents,” Giorgetti said.

He described the result in restrained terms, saying the government had not performed miracles but had kept the country’s “boat” afloat. He also said Italy was more respected abroad than at home.

We were not miracle workers, but the boat has remained afloat.

· Giancarlo GiorgettiGiorgetti characterized the government’s economic performance.

On wages, Giorgetti said the government could contribute through tax and social-contribution incentives, but employers also needed to act. Companies, he said, should view salaries as one of the first forms of investment needed to restart the economic cycle.

Italy is much more respected abroad than at home.

· Giancarlo GiorgettiHe contrasted Italy’s standing abroad with perceptions inside the country.

Giorgetti also criticized Italian pension funds for investing outside the country. He said Italy should help build Europe while considering how complementary pension funds could support investment at home. Foreign funds invest in Italian companies, he noted, and he questioned why Italian pension funds do not do the same. He added that Italy should not simply wait for European rules to encourage capital to remain in Europe.

Why do they invest everywhere except in Italy?

· Giancarlo GiorgettiHe questioned why Italian complementary pension funds do not invest more in domestic companies.
About this summary

Originally published by ANSA in Italian. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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