Confindustria lowers its growth estimates for 2011 (0,9%). Paolazzi: "Indispensable reforms"

The Confindustria Study Center has revised downwards the growth estimate for 2011 to 0,9% (from 1,1% in December) and warns that, in the absence of structural reforms, in 2012 the GDP will experience a further slowdown, reaching +0,6% compared to the estimate of 1,1%. To combine an increase in GDP of just a little over 1% - says the director of the CSC Luca Paolazzi - and compliance with the commitments undertaken at the European level on public accounts, immediate reforms capable of strengthening the confidence of households and businesses and raise their respective propensities to consume and invest”. Starting from: simplification and red tape, acceleration of public works, liberalization and market opening in many services, training, public administration efficiency, fight against tax evasion, tax reform that lowers the burden on labor and business income and shifts it on other income and consumption. The alternative is not difficult to imagine: additional maneuvers would be needed which the Government itself – Paolazzi recalled – calculates cumulatively at 1% of GDP in 2014, ie another 18 billion in addition to the 39 billion written in official documents.