Applications for non-repayable support from VAT numbers, expected at 3 million, were lower and “from the Inland Revenue emerges a number of applications under two million” with resources used about four billion lower than the initial estimate. Economy Minister Daniele Franco said this in a hearing at the Budget Commission of the House on the Sostegni bis decree, explaining that “it is possible there is a figure that goes beyond” that allocated to extend the intervention for VAT numbers based on the result operating year from 10 to 15 million in turnover. “The hypothesis that I would formulate, personally – Franco said – is to use this margin for the summer intervention on the basis of the operating results”.
Bank of Italy: resources made available are sufficient
A strengthening of the non-repayable component that comes while the Bank of Italy gives the ‘green light’ to the Government’s measures. In a hearing on the Sostegni bis decree, Fabrizio Balassone, Head of the Economic Structure Service of Via Nazionale, assured that the measures “seem sufficient”, with the support for production activities in 2021 increased again compared to 2020, containing less than 100 thousand the number of companies in liquidity crisis against the 140 thousand that would otherwise have found themselves in difficulty. Measures of “exceptional size” necessary to counter the pandemic shock, said Balassone, recalling that “public intervention will have the difficult task of becoming more selective, focusing on the sectors that will suffer from difficulties related to the health crisis for the longest time, supporting and accompanying those who will still be unemployed towards a new job ». In confirming the expectations of a 2021 increase in GDP over 4% already anticipated by Governor Visco, the head of Bank of Italy assured that “robust growth” is expected for the second half of the year.
Franco: probable increase in the 2021 growth estimate
The Minister of Economy Daniele Franco, with the data coming from the Revenue Agency that are beginning to shed some light on the audience of shops, restaurateurs, tourism operators who have applied for the non-repayable aid of the ‘Sostegni’ and ‘decrees Sostegni Bis’, outlined the summer intervention that will focus on these categories, the most affected by the pandemic, after having qualified the latest economic decree as essential to avoid “permanent damage to the economy” and in the wake of economic forecasts that improve: “it is probable that if everything continues at the pace of recent weeks, on the economic and health aspects, the annual GDP forecast could be revised upwards”. An opening to improve the estimate of 4.5% growth in 2021, which comes after Istat, various study centers and most recently Confindustria.
Responding to a question about the budgetary effects of a possible improvement in the macroeconomic situation, the minister Franco added that “if GDP growth were wider, with the same deficit target there would be more resources either to cut taxes, either. to increase public spending. We will see him in September ».
“Refreshments impact may be greater than 0.6 GDP points”
“In the Def it was estimated that this package would have an effect on GDP of 0.6%. We can confirm these estimates which are in any case prudential, ”the minister said, speaking of the impact of the Sostegni decree and the Sostegni Bis decree. “We can therefore hopefully predict that the impact on the economy could be greater, it also depends on what is happening in the world,” explained the minister.