Mercoledì, 17 Ottobre 2018

Squinzi says Italy must make economic growth top goal


Rome, May 23 - Italy's single most important
objective must be a rekindling of economic growth, the head of
Confindustria, Italy's powerful industrial confederation, said
Otherwise annual growth will remain stalled at levels of no
more than 0.5% - well below the rate of inflation, said Giorgio
"The goal must now be just one: a return to growth,"
Squinzi said at the organization's annual assembly in Rome.
The country's wellbeing depends on learning to "leverage
its resources" to boost the economy, he added.
Italy is now stuck in the longest recession on record with
seven straight quarterly drops in gross domestic product (GDP)
amid rising costs and unemployment all making it harder for
individuals and companies to improve their lot.
Last week, national statistics agency Istat reported that
GDP fell 0.5% in the first three months of 2013.
Without "concrete and decisive action, growth for a long
time will not exceed 0.5% per year, not nearly enough to create
jobs and revive the destinies of many companies," said Squinzi.

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