Public finances: Giorgetti says the ship is in safe waters; the budget will not be conservative

Rome, 18 Sept. (LaPresse) – “I am absolutely convinced that I have done everything that could be done. Of course, dreams are lovely, but reality is quite different. Amidst trade wars, military conflicts and problems of all kinds, I have said that the ship has stayed afloat – no, the ship is in safe waters. We are respected by the markets, and if we have remained in government for all this time, it is perhaps also because no one has thought we are financially unreliable. The history of this country has taught us that unpleasant things can happen if one is not respected and trusted by the markets.” So said the Minister for the Economy, Giancarlo Giorgetti, via video link with the Open Festival. “It won’t be a conservative budget,” Giorgetti clarified, responding to a question on the matter, “as far as investment is concerned, we have adopted the multi-year hyper-depreciation scheme, which is a very powerful tool and provides certainty for entrepreneurs. Of course, there is still much to be done on cutting red tape. A great deal has been achieved with the Special Economic Zone (ZES) for Southern Italy; I believe we can do even more.”