ROMA (ITALPRESS) – “Saving is a pact with the future: we consume less today to build the welfare of tomorrow. This pact holds if savings find jobs capable of generating growth and if its value is preserved.” This was said by the governor of the Bank of Italy, Fabio Panetta, intervening at the 102nd World Saving Day. “The geopolitical tensions, the energy shock and the spread of artificial intelligence test both conditions: inflation erodes the value of accumulated capital, the rise of rates changes its remuneration, innovation redefines the opportunities and risks of its use,” he added.
“The European economy is showing, like the Italian economy, an estate higher than expected. The prospects are however blurred by the energy shock, as well as geopolitical risks and financial tensions; the effects of inflation and the greater costs of financing could increase in the coming months.” “There are two fundamental requirements: to ensure price stability and to maintain a prudent budgetary policy,” he added. “They are indispensable forms of saving protection. But that’s not enough. Savings protection requires an economy capable of growing and generating income,” he explained.
The governor of the Bank of Italy has emphasized that “Europe and Italy have an important wealth, but cannot fully exploit it to finance innovation and increase productivity. Without growth it becomes difficult to support pensions, health and care in ageing societies; without growth the young people’s chances of finding a suitable job, making themselves autonomous, forming a family are narrowed”.
“In Italy, financial wealth needs to be used better. Another problem is added to this: the flow of household savings has reduced over time, and those who need to accumulate – young people – has less chance to do so. It is a crucial issue for the future well-being of an old society, in which supplementary pensions must increasingly supplement public pensions.” “The decrease in savings recorded since 2000 is due to the income stagnation and the less propensity to accumulate. The less propensity to savings has financial and demographic motivations,” he concluded.
MANOVRA, PATUELLI “DA DICHIARAZIONI UN MOSAICO PREOCCUPANTE”
“We will give a comprehensive and comprehensive assessment when the Budget Act is filed and printed in Parliament.” The president of Abi, Antonio Patuelli said so. “From the various statements made these days, a worrying mosaic came out, because the tax pressure would be increased further through the Ires and there would be an even more heavy burden on the Irap. All this falls on shareholders, the banks are all private. The withdrawal to the foundations – he added – creates problems in terms of method, because last year an agreement had been reached. In terms of sacrifice, for three years, spent one year, that agreed agreement is not abolished but is aggravated by these measures.” The president of the Abi hopes that “before the print sees the light there is a reflection, also because the season of banking crisis has not been forgotten”.
GIORGETTI “MANOVRA PRUDENTE, PIÙ DI QUANTO MOLTI AVREBBERO VOLUTO”
“For Italy the stability of the accounts comes before any economic policy. First stability then growth, stability is built before it serves”. The Minister of Economy, Giancarlo Giorgetti. “The newly presented Budget Law is prudent, more cautious than many would have liked,” he added.
– photo IPA Agency –
(ITALPRESS).
