Freitag, 19.07.2019 18:46 Uhr

SVIMEZ Report 2018 presented to the Foreign Press in Rome

Verantwortlicher Autor: Carlo Marino Rome, 04.12.2018, 11:08 Uhr
Nachricht/Bericht: +++ Wirtschaft und Finanzen +++ Bericht 4125x gelesen

Rome [ENA] Southern Italy is a macroregion of Italy traditionally including the territories of the former Kingdom of the two Sicilies (all the southern section of the Italian Peninsula and Sicily), with the frequent addition of the island of Sardinia. The 2018 forecast of the SVIMEZ (Association for the Development of Industry in Southern Italy ) in its Annual Report highlighted that after a recovery phase in

which Southern Italy had managed to keep pace with the Center-North, there’s a new gap concerning growth with the rest of the country, in the context of a significant slowdown of the national economy. The economic situation in the third quarter of 2018, with a sharp worsening of the main economic indicators, leads to a significant downsizing of the forecasts concerning the growth of the Italian economy in 2019. The weakening of the economic situation concerns the whole European economy (which grew in the third quarter of just 0.2%).

The effects reflected in the Italian Government Budget must therefore be assessed in the light of a similar downward tendency of the economic cycle which, as seen in 2018 transferred its effects to both areas of the country, but with greater intensity to the South. The SVIMEZ, on the basis of the territorial distribution of the interventions planned in the government budget law both in terms of lower revenues and higher expenses, estimated that in two-year period 2019-2020 the Southern Italy is going to get an income decreased by about 40% with expenses increased of 40%. The slowdown of Southern Italy in 2018 has been mainly due to the weakening of consumption, SVIMEZ reported.

After Greece, Italy shows the slowest recovery in the European Union. On the other side, absolute poverty in 2017 in Southern Italy is almost as high as in Romania, the European country that holds this sad record- declared Luca Bianchi, director of SVIMEZ intervening in a meeting organized by the Foreign Press Association in Rome . In Southern Italy absolute poverty is 12%, compared to 12.1% in the former communist country, with a fundamental difference, however: that in Romania in 2008, it was around 11%, in the South ten years ago it was 10%. Hence the troubling acceleration from the recessive crisis up to the current phase of recovery.

In Southern Italy - explained Bianchi - there is a clear split between economic dynamics which has started to move again after the crisis, and social dynamic which tends to exclude a growing share of citizens from the labor market, expanding poverty and hardship to new segments of the population. " According to the Director SVIMEZ " the growth of the working poors phenomenon is particularly worrying, as a result of the increase in low paid jobs, due to overall deskilling problem, which is also borne reflected in the income, and the explosion of involuntary part time”.The absolute poverty increased in Italy in 2017 including over five million people, of which almost 2.4 million in Southern Italy.Families in absolute poverty have grown from

700 thousand in 2016 to 845 thousand in 2017. In the southern area more than a quarter of families, couples and single-parents, with adult children, are in the lowest income bracket. The incidence of absolute poverty increases in the Mezzogiorno, especially due to its worsening in urban areas (from 5.8% to 10.1% in 2017). Moreover, in the southern regions, the incidence of relative poverty is more than triple compared to the rest of the country (28.2% compared to 89% in the Center-Northern regions), as a result of low employment and a per capita income that is on average 56% of that of the Center and Northern Italy.

Based on the SVIMEZ estimates concerning the citizens income introduced by the Italian government budget 2018, if all potential beneficiaries (2.5 million households) are to be guaranteed to reach the indicated threshold (€ 780), the resources aren’t sufficient. Taking into account the number of families and a share of families owning the family home, the citizens income would cost about 16 billion euros. Last but not least, according to SVIMEZ Report public investment is stagnant while the expenditure for an efficient public administration is still negative.

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