Yesterday, during the presentation of the economy report of Campania at the headquarters of Bank of Italy, the intervention of the Deputy General Manager of the Bank Fabio Panetta it allowed for an in-depth reflection on the southern economy.
“The Bank of Italy has always considered the South to be crucial for the country's economic and social development. It is an area that represents a third of the population and a quarter of the domestic product, which in its history has provided Italy with irreplaceable intellectual resources.
The continuous and in-depth analyzes by the economists of the Bank of Italy, aimed at supporting policies in the South, allow a broad view of various aspects of the economy of the South. The product increased by 3,5 people hundred, with a good performance of all the components, in particular of the investments which amount to 10,9 percent in real terms and show that the intent of southern entrepreneurs is to aim for the future.
Sui international markets the ability to compete is increasing, even if the weight of exports remains structurally low. The maintains its positive trend since 2008. The growing industrial sectors are mainly food and clothing, but also aerospace, electronics and measurement have recorded positive results, particularly in Napoli and Bari.
Employment increased by 4,5 percent between 2015 and 2017, a value which is equal to one and a half times that recorded in the Centre-North. The growth was driven by term employees, while permanent workers remained stable. Job creation is widespread across sectors.
As far as the banking sector is concerned, although there has been a growth in credits and a reduction in interest in the last three years, the cost of credit however, it remains higher in the South. "The territorial differences in access to credit and in the cost of loans reflect the geographical imbalances that characterize the real economy and the fragility of the southern cost"
Lpublic action continues to be ineffective: surveys report a worsening of the frequency and punctuality of local mobility services and the inadequacy of urban and extra-urban connections. Important shortcomings are also found in the distribution of electric energy and in the availability of water resources. To ensure a credible growth perspective, which can bring the productive and employment activity of the South closer to that of the whole country, it is necessary to work on public services and infrastructures.
The South has suffered the crisis more than the rest of the country. Today it shows signs of recovery, but slowly and continues to impoverish itself due to the loss of its youngest and most prepared resources. ” The picture is not favourable, but leading the South on a path of sustained growth is an essential objective. Firstly for reasons of solidarity and equity, but not only. Stimulating the development of the southern economy is in the interest of the whole country. The southern and central-northern regions are linked by a dense network of commercial, productive and financial relationships.”
