Italy

Italy in danger of entering recession

cde.news desk 7 October 2019, 15:45 · 1 min read

epa07263863 Clothes are on display in a showcase during the first day of winter sales, in Rome, Italy, 05 January 2019. Seventy percent of the Italians are waiting to spend in the January sales, retail group Confcommercio said, mostly on clothing, footwear, and accessories. EPA-EFE/Massimo Percossi

The CSC research unit of Italian industrial employers’ confederation Confindustria said Monday that Italy is “still on the threshold of zero growth” and “risks falling into recession in the case of new shocks”.

The CSC report said that Italy’s growth rate is set to be flat in 2019 and in 2020 if rises value-added tax that are set to kick in next year are not averted.

It said that the state of the public finances is better than that is reported in the updated version of the government’s DEF economic blueprint.

It called for an effort to bring about a watershed in 2020, proposing the 80-euros a month tax bonus for low earners be extended to people embarking in their first jobs and that the bottom two tax brackets to be brought into line with each other.

Via ANSA

Filed under Economy Italy

Topics Confindustria Economy Italy Recession

Italy in danger of entering recession

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