Giorgetti at the IMF: safeguarding debt sustainability and growth

The goal of economic resilience “requires greater diversification of energy sources and supply chains in the medium term.” The message emerges from the statement by the Minister of Economy, Giancarlo Giorgetti, to the International Monetary and Financial Committee of the IMF.

«The spread of technological innovation, including through artificial intelligence, offers significant opportunities to increase productivity and strengthen long-term growth, together with risks that will need to be carefully managed», continues the official document.

«Fiscal policy should - underlines Giorgetti - rebuild margins for maneuver and safeguard debt sustainability through credible medium-term frameworks (such as the EU fiscal framework), while protecting investments that promote growth and essential social spending, reducing the risks of external contagion and improving the quality and efficiency of public spending and revenues».

In this period of uncertainty in the world, Giorgetti underlined, «far-sighted and carefully balanced policies, together with stronger international cooperation – supported by a rules-based multilateral system – will be essential to manage risks and spillover effects, limit fragmentation, seize new opportunities and promote sustainable and inclusive growth».

In the statement Giorgetti adds: «The global economy has shown resilience in the face of successive shocks, but growth remains uneven, the outlook remains fragile and inflationary pressures continue to weigh on families. Russia's war of aggression against Ukraine and ongoing conflicts in the Middle East continue to take a heavy humanitarian toll, weigh on global economic activity and increase geopolitical uncertainty." The intervention of the Italian minister is on behalf of the constituency made up of Albania, Greece, Italy, Malta, Portugal, and Republic of San Marino.