Giorgetti: 'Istat revision makes +1% GDP 2024 more difficult. New cadastral values if building bonuses are used'

"The presentation of this new document," Giorgetti recalled at the hearing, "comes at a time characterised by contrasting trends: while on the one hand the trend of economic variables appears to be generally in line with expectations, on the other hand the widening of ongoing conflicts, particularly in the Middle East, is further increasing the uncertainty characterising the global economic scenario.

Regarding growth, the minister said that "the recent revision of the annual quarterly estimates by Istat, while raising the level of GDP by a large margin in both nominal and real terms, have resulted in a mechanical downward correction of the acquired growth for 2024 that makes it more difficult to achieve an annual change in real GDP of 1 per cent for the current year. While the new quarterly data are likely to have an impact on the final 2024 reading, they do not raise concerns for the following years," he added.

Among the reforms of the Psb, said the head of the Mef, there is also 'the updating of cadastral archives, which will have to include properties that have not been surveyed to date and revised cadastral values for those properties that have achieved structural improvement, following redevelopment work financed in whole or in part by public funds'.

With regard to the issue of where to find the resources to cover the next manoeuvre, 'sacrifices for everyone,' reiterated Giorgetti, 'those who had had the patience to listen to this interview would have seen that I have not corrected anything at all, I replied that everyone must make sacrifices, not just workers, so much so that we have already given these people who are bearing these sacrifices the wedge cut never seen in recent times. I do not like disinformation, the stock markets may fall, but a political analysis must be made, Salvini has perfectly understood what I wanted to say'. Economy Minister Giancarlo Giorgetti said this at a hearing on the Psb, answering questions.

"A little more than a century ago, John Maynard Keynes noted that 'We regard as natural, permanent, secure, some of the most singular and temporary of our recent advantages, and we adjust our plans accordingly'. Every budgetary policy intervention must be carefully assessed and placed in the context in which it is introduced and subsequently maintained,' Giorgetti said, concluding with a quote from his speech on the SGP at a hearing before the joint Budget committees of the House and Senate. 'Only in this way,' he added, 'will it be possible to ensure an effective management of resources and an adjustment of accounts useful to improve Italy's reputation and attractiveness and, consequently, guarantee the stability of 'our advantages''.