"The phase of significant improvement in the labor market persists" and a "further progressive increase in employment is foreseeable in the coming months and years". This was stated by the Minister of the Economy, Pier Carlo Padoan, in the hearing on the Note to the Def.
The number one of the MEF estimated 1 million more jobs than in September 2013, a date that represents the "minimum point". “In Italy – continued Padoan – the consolidation of growth is returning” and “the recovery of the economy is gaining strength, in a context of positive growth prospects” in Europe. “The conditions are in place for further strengthening of growth in the third quarter,” she added.
The minister also underlined how the consolidation effort made in the last 10 years is "among the most significant in the euro area". Not only that: "after 7 years of increases, the debt recorded a first decline in 2015", which will be followed by a reduction "also in 2017, which will then accelerate in 2018 and in the following years".
The efforts made on public finances "will make it possible to absorb the phase of interest rate increases".
As regards the next Budget law, it will include: "selective measures to boost growth, public and private investments, social promotion and for young people" but "the impact on growth of expansionary measures is significant" , a “0,3%” which is “a prudential assessment”. An "excessive restriction" on the adjustment of public finances would put "at risk the recovery and social cohesion of the country", Padoan said.
