Premier Matteo Renzi expressed
delight on Tuesday when Istat confirmed that Italy returned to
positive growth after three years in 2015 with a 0.8% increase
in gross domestic product in volume terms.
The figure was higher than the 0.7% that the national
statistics agency had given in its preliminary estimate in
February based on quarterly data.
But it was lower than the growth rate of 0.9% that the
government forecast in September, in the update statement for
its economic blueprint, the economic and financial document
(DEF).
"The numbers say that Italy is back," Renzi said on his
Facebook page.
"We won't leave it in the hands of catastrophists who like
it when things go bad".
He added his post was damaging for "ill wishers".
"Taxes are coming down with the government, the number of
people in work is going up and the chatter of the ill wishers is
worth nothing," he said.
Italy's unemployment rate was steady at 11.5% in January,
basically flat with respect to December but 0.7 of a percentage
point down on the same month last year, according to provisional
data released by Istat on Tuesday.
It said 2.951 million people were unemployed in January,
stable with respect to December and 169,000 fewer than January
2015.
The unemployment rate for 15-to-24-year-olds who are
actively on the labour market rose to 39.3% in January, the
highest level since October.
But the number of people in employed with permanent,
open-ended contracts rose by 99,000 in January with respect to
December and was up 426,000 compared to the same month last
year, Istat said.
The government has tried to tackle high employment levels
by suspending social-security contributions for three years for
some groups of newly hired workers and with its Jobs Act labour
reform.
Among other things, this reform gives newly hired workers
gradually increasing levels of job protection and weakens the
rules against unfair dismissal in order to encourage firms to
take people on on permanent open-ended contracts.
Renzi trumpeted the effects of the reform on Tuesday.
"The Jobs Act boom is impressive," he said, citing figures
from Istat and pensions and social-security agency INPS.
"In our government's two years (in office) we have hit the
target of creating almost half a million more steady jobs. INPS
recalls that permanent, open-ended contracts increased by around
764,000 in 2015".
Economy Minister Pier Carlo Padoan said the data showed
that the government was keeping its promises
"The government is respecting its public-finance
commitments within a framework of growth," Padoan said.
"I'm convinced that today's data show that the government
should keep going down the line taken up to now".
Istat said Italy's tax-to-GDP ratio fell to 43.3% of GDP
in 2015, down from 43.6% the previous year and the lowest level
since 2011, when the ratio was 41.6%.
Italy's deficit-to-GDP ratio was 2.6% in 2015, down from
3% the previous year.
Istat said gross fixed investment grew by 0.8% in 2015 -
the first rise in eight years.
Italian debt rose to 132.6% of GDP in 2015, the highest
level on record, the agency said, compared with 132.5% the
previous year.
However, the figure is below the prediction contained in
an update to the DEF, which indicated a ratio of 132.8%.
In absolute terms Italian debt amounted to a record 2.17
trillion euros.
ALL RIGHTS RESERVED © Copyright ANSA
