Sabato 19 Gennaio 2019 | 02:06

NEWS DALLA SEZIONE

Vicenza
Migrant hired after handing in wallet with 900 euros

Migrant hired after handing in wallet with 900 euros

 
Rome
7 of 10 gynecologists conscientious objectors agst abortion

7 of 10 gynecologists conscientious objectors agst abortion

 
Norcia
Cloistered nuns return to quake zone, in container

Cloistered nuns return to quake zone, in container

 
Rome
Calenda launches pro-EU list

Calenda launches pro-EU list

 
Milan
Carige asks State guarantee for 2 bn in bonds

Carige asks State guarantee for 2 bn in bonds

 
Rome
Treccani adds Sordi to Italian biographical dictionary

Treccani adds Sordi to Italian biographical dictionary

 
Berlin
Italy shd work to defend EU, Schaeuble to Mattarella

Italy shd work to defend EU, Schaeuble to Mattarella

 
Rome
Soccer: Koulibaly appeal agst 2-match ban turned down

Soccer: Koulibaly appeal agst 2-match ban turned down

 
Rome
Society splits if wealth not shared - pope

Society splits if wealth not shared - pope

 
Brescia
Woman's charred body found in wood near Brescia

Woman's charred body found in wood near Brescia

 
Berlin
Merkel lauds Italy Libya line

Merkel lauds Italy Libya line

 

Rome

Expansive policy could be dangerous - Bank of Italy

Spread rise risks frustrating efforts to boost growth -Signorini

Expansive policy could be dangerous - Bank of Italy

(see related stories on Tria). Rome, November 9 - Bank of Italy Deputy Director General Federico Signorini warned Friday that an expansive fiscal policy was risky. "Although useful in adverse phases of the (economic) cycle, an expansive budget policy does not guarantee growth in the medium term and could endanger it in the long term," Signorini told a joint hearing of the House and Senate budget committees on the government's budget package for 2019. He said the government's growth targets, which it hopes to achieve with the help of an expansive budget featuring a deficit of 2.4% of GDP next year, were "ambitious". The government forecasts Italy's GDP will grow 1.5% next year and 1.6% the year after. "The expansive impact foreseen by the government appears high," Signorini said. He also said that the positive impact of the government's fiscal policy risked being undone by rises in the yields on Italy's State bonds. He said that the sharp recent increases in the spread between Italian and German bonds "has already cost the taxpayer almost 1.5 billion euros in (extra) interest over the last six months". He said the cost of servicing the national debt could go up to over five billion euros in 2019 and around nine billion in 2020 "if the rates should stay consistent with the current market expectations". "The growth in interest rates on the public debt has an effect that in some way is comparable with tightening monetary policy," he added, "risking to frustrate the whole of the expansive impulse from the budget policy".

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