The GDP estimates released today by Istat, according to which after three years of expansion in the third quarter of 2018 theItalian growth has stopped, concern not only the markets but also businesses.
The number one of Confindustria, Vincenzo Boccia uses very clear words: "There is a divergence of economic explanations in this government on which we must begin to clarify that if the results of growth will not be there in the coming months it is solely the fault of this government and of the economic policy it carries out, not of others”, Boccia affirmed on the sidelines of the Confindustria Canavese assembly held in Ivrea. "We are available to the country and the government - he said - to make proposals that do not put ideologies before economic explanations".
Commenting on the Istat analysis, Boccia spoke of "predictable estimates". “”We've said it for some time, the global economy is starting to slow down there is an internal question of an Italy that must react".
The alarm raised by Boccia was also taken up by the chief economist of Confindustria, Andrea Montanino who speaking with the agencyThe Sole 24 Ore Radiocor focuses mainly on 2019, when, according to him, GDP will grow "well below 1%" and above all much less than the 1,5% envisaged by the Government. "The real issue - explains Montanino - is what happens next year, the carryover effect on 2019 worsens and the Maneuver will not have significant expansive effects", he says.
We recall that Confindustria had forecast growth of 0,9% for next year. But at this point, Montanino is no longer even certain of this. Doubts that arise above all because of measures contained in Maneuver, considered inadequate and above all unable to push growth.
“There are no pro-business interventions – continues Montanino – between the squeeze on banks which will be unloaded on businesses and households, given the already low profitability, the elimination of the Ace, the weakening of Industry 4.0, the absence of credit for the formation. Citizenship income will not have expansive effects, and in any case it will take time given the complex mechanism”.
On the other hand, no worries about the unchanged GDP in the third quarter and the bleak prospects for next year come from the Government, according to which "everything will go for the best".
“Unfortunately from an international point of view there has been a series of factors which affect the general economic situation. But you will see that with the 'maneuver of the people' not only the GDP but the happiness of the citizens will recover", commented the deputy prime minister Luigi Di Maio.
Optimism also on the part of the Prime Minister, Giuseppe Conte: “It's a cyclical halt, that is, it concerns the whole picture of the European economy. We had foreseen it but for this very reason we have planned an expansive maneuver that adapts to the trend that was emerging and aims to reverse it ”, he said.
