Government economic interventions have increasing positive effects over time and will show significant benefits in the next two-three years. This was stated by Economy Minister Pier Carlo Padoan speaking at a conference in the Senate after the GDP was estimated by Istat to be still negative by 0,1% in the first three months of the year.
For 2014, the Treasury has forecast growth of 0,8% against 0,6% for the EU and the IMF. “I await further evidence to assess whether the first quarter GDP figure has a lasting impact on growth prospects. But our simulations show that if we put together the payment of public administration debts, the reduction of the tax wedge and structural reforms, first and foremost that of labour, an encouraging message emerges", said the minister, explaining that "the impact of these measures is positive and growing over time. It is very relevant in the next 2-3 years”.
The economic and financial document launched in mid-April indicates that the measures in the pipeline should accelerate the growth rate by 0,3 points in 2014, 0,6 points in 2015 and by over 2 points in 2018.
