By Luiza Minuci and Patrizia Setton
After more than a year of pandemic, Italy shows signs of economic growth, despite being the first European country to present cases of Covid-19 and its histories regarding its public debt and unemployment.
The country has been experiencing periods of low GDP (Gross Domestic Product) since the global financial crisis of 2008/2009, in which he contracted in more than 5% and only signaled an improvement in 2015, e, even so, did not allow for high growth, keeping the data in the range of 4%. The drop in the country's GDP was further aggravated by the Covid-19 crisis, that made the Italian economy – as well as the world -, froze. In this situation, in 2020, the IMF estimated a loss of 10,5% in the Italian Gross Domestic Product, after a historic recession of 8,9% in the economy that hasn't been seen since the post-war, due to restrictions measures, like lockdowns.
In 2021, the Italian government created measures to alleviate the effects of the crisis generated by the coronavirus pandemic. In addition to the actions already taken in 2020, such as allocating more than 1,1 billion euros (Italian Council for Agricultural Research and Analysis of Agricultural Economics) and the legacy of most of the European Union's economic recovery plan, the result was a help from 750 billions of euros. Such steps include government plans to cut taxes so much., as the tax burdens, from a tax reform that can still be approved in the future..
According to data presented by the Italian Institute of Statistics (State) in 2021, we realized that the country's GDP grew 2,7% in the second quarter compared to the first, event that can be explained by the high internal demand, signaling an upturn in the economy.
Italian Economy Minister, Daniele Franco, he spoke saying that the government intends to maintain its expansionist policies and that there is a possibility that the economy will overcome a growth of 5,8% in this year. Franco followed his speech by claiming that the government is committed to keeping Italy's economy growing. in july this year, the minister had already declared that the country was recovering at a fast pace and already predicted that it could reach a rate higher than 5%. The Italians, who don't see economic performances like this for about
of 20 years, are enthusiastic, as well as entrepreneurs, who understand such data as elements of stability and international credibility.
Compared to the German economy, which predicts a growth of 5,2%, the projections for the year of 2022 are that the Italian economy will grow more than 4%, bringing GDP to its pre-Covid-19 pandemic value, as pointed out by the Italian Treasury. However,, the current Prime Minister Mario Draghi, known for saving the European economy in the crisis of 2012, believes in the importance of caution, warning about the need to maintain the current growth rate and not settle for the current results.
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