Dpfp, Giorgetti: Italy demonstrates its ability to respect its commitments, credibility as a resource to be preserved

«Italy has demonstrated in recent years that it knows how to respect the commitments undertaken within the new European budget rules and that it wants to maintain a sustainable public finance path, without, however, renouncing to highlight some unresolved issues of the new economic governance, which could only emerge with its concrete application» the minister pointed out. The Dpfp (public finance policy document) foresees a "temporary growth in the debt-to-GDP ratio". Thus the Minister of Economy Giancarlo Giorgetti in a hearing before the joint Budget commissions of the Chamber and Senate in Montecitorio. "The country's credibility, especially in a phase like this, is a resource that must be preserved with hopefully the broadest possible consensus of the parliamentary forces."

«The data contained in the document confirm the path of consolidation of public accounts» while taking into account the significant risks. The "forecasting framework is necessarily exposed to the evolution of some external variables" that do not depend on Italy. Giorgetti specified that "external risks" can impact growth and accounts.

"Italy has demonstrated that it knows how to respect the commitments undertaken, without giving up highlighting some unresolved issues of the new governance, which could only emerge with concrete application" the minister pointed out in reference to the request for attention regarding the increase in inflation compared to that planned. «We are confident that with the appropriate technical insights it is possible to interpret the rules that take these elements into account», he added.

For Giorgetti there are "two essential needs: the consolidation of accounts for market confidence and the use of spaces for selective interventions" for families, workers and businesses.

The recent review of the national economic accounts by Istat, Giorgetti then specified, "renders a more favorable picture of the performance of the Italian economy".