00 11/29/2006 5:29 PM
A recovery in 2006 signals an end to 4½ years of near stagnation. The main driving forces have been strong export market growth, easy credit conditions, reform-led employment growth and improving confidence. Growth is likely to slow in 2007 partly due to policy tightening, but rebound by 2008.
The 2007 fiscal consolidation rests, for the most part on projected revenue hikes, which might increase work and investment disincentives. Containment of spending pressure is therefore needed, notably in the pension, public employment, local authorities and health areas as indicated in the government’s own medium term plan. To keep inflation under control, it will be important to fully implement announced product market reforms. More decentralised wage setting could further help to recoup past competitiveness losses.

In sostanza il pil nel 2007 scenderà, con una timida ripresa nel 2008. La crescita dovuta alle riforme effettuate dal governo di centrodestra è stata stroncata dalla politica fiscale restrittiva di Prodi. Salvaci tu...