Confindustria data on Italian economic response has been misled

The document published by the Confindustria Study Center on the Italian and European economic response to the Covid emergency contains outdated, incomplete and misleading data.

For example, the report writes that "as regards subsidies, Germany paid over 13 billion euros to small businesses and self-employed people (in about two months) compared to 4,7 in France (paid in just over two months) and the 2,4 of Italy (for the month of March only) ". In reality Italy paid almost 6 billion to almost 5 million people for all the allowances in March and April, therefore more than France. Furthermore, for small businesses the rental bonus, the discount on bills, the Irap rebate in June are also operational and from next week the disbursement of grants will begin, which will bring the total amount to just under 20 billion EUR.

As for liquidity, in the comparison Confindustria omits the total 277 billion of the moratorium on loans and mortgages, which benefited 2,6 million between citizens and businesses and the inclusion of which would significantly change, for the benefit of Italy, the comparison and critical considerations .

Finally, as regards the timing of adoption of the decrees with respect to the beginning of the spread of Covid, it is worth noting that the first decree containing "urgent support measures for working families and businesses connected to the epidemiological emergency from COVID 19" dates back to 2 March, 10 days after the first case ascertained in Lombardy.

Of course it is true that some measures have encountered criticalities in the implementation times, first of all the layoffs in derogation, which served a too complex procedure. The government acknowledged the problem and therefore introduced important changes in the relaunch decree. Identifying critical issues and problems is important and useful, however we hope that everyone's analyzes and evaluations will always be based on careful examination and use of the data.

Confindustria data on Italian economic response has been misled

| Economics, EVIDENCE 2 |