#SoseXpress - Press Review 26th September/2nd October

The territorial cohesion is a priority of the project for Italy.

With these words, the Minister for the South, Giuseppe Provenzano, addressed the Budget and EU Policy Committee speaking of the “National Recovery and Resilience Plan.

The Debate of Ideas

 

 

Environment and growth: what was said at the 15th edition of the Trento Festival of Economics?

During the 15th edition of the Trento Festival of Economics, many issues were discussed, such as the effective implementation of the Next Generation EU, the use of ESG indicators for sustainable financing initiatives, and the economic effects of climate change. Many institutions‘representatives, such as the President of the Council, Giuseppe Conte, outstanding international economists, and Nobel Prize winners, participated in the event. 

 

The knowledge and innovation communities: a link between academic and industrial world.

The knowledge and innovation Communities (Kics) are physical and virtual places promoting at the local level the cooperation between university-industry-state and the intermediate bodies typical for each territory (banks, trade associations, trade unions, professional orders). The Knowledge and Innovation Communities, promoted by the European Community, pursue three intervention lines; training, applied research, and innovation support. All their activities aim to recover the features of each territory. This model will allow us to face some of Italy's most critical problems, such as the lack of correspondence between demand and supply of labor.

Studies, researches and numbers

 

Industrial equipment sector and COVID-19: scenario, impact and prospects according to CDP Think Thank, E-Y and Luiss Business School.

The Covid-19 crisis has affected most of the economic sectors, among which the industrial equipment industry. According to an analysis conducted on a panel of Italian enterprises, during 2020, the crisis could reduce the sector's turnover from 16,7% (Basic scenario) to 23,1% (Severe scenario). In a thematic report, CDP, E-Y, and Luiss Business School illustrate the interventions to relaunch the sector, such as digital investments, partnerships, and asset and finance support. 

 

ISTAT: In September consumer and business confidence improved.

In September business confidence climate continued to recover and increased from 81,4 to 91,1, and consumer confidence increased from 101 to 103,4%. The improvement in confidence was spread across all sectors, with different intensities and increased market services. In manufacturing the index rose from 87,1 to 92,1% and in construction from 132,6 to 138,6%. Market services registered a significant increase from 75,1 to 88,8% while in retail trade, only from 94,3 to 97,4%. The index growth in the last four months reduced the gap compared to the level before the health emergency, although it remains relevant, excluding the construction sector. The consumer confidence index registered a positive trend for the second consecutive month. 

 

ISTAT: employment growth. + 67 thousand self-employed.

The employment growth registered in July continued in August. On a monthly basis, the increase in employment, +0,4% equal to 83 thousand, involves both men and women, employees, and self-employed people of all ages. Overall. the employment rate increased to 58,1% (+0,2 percentage points).

The number of unemployed decreased (-0,9% equal to 23 thousand units) and concerns women and over-25, while unemployed increased among men and people aged 15-24. The unemployment rate dropped to 9,7% (-0,1 points), but increased to 32,1% (+0,3 points) among young people. 

 

OECD Business and Finance Outlook 2020: The data on sustainable economy and finance are online.

The Business and Finance Outlook 2020 by OECD dedicated this year to a sustainable economy, is available online. According to the report, the ESG (environmental, social, and governance) investing performances gave better results facing the pandemic than traditional investments. The sustainable market growth, which at the end of 2019, exceeded 30,000 billion-dollar revenues in 5 major world markets, was also positive. Here the document.

 

Circular economy: an opportunity for relaunching.

The pathway to development passes through the circular economy. According to the position paper for the development of circularity by "Alleanza per l'Economia Circolare, the model based on circular economy proved a promising opportunity to relaunch our Country, also considering the COVID_19 effects. The paper defines 23 detailed actions to fully exploit the circular economy's potentialities, but it is necessary to act now. 

 

Cosmetics, a resilient sector.

Cosmetica Italia presented an economic survey about the industry in the first quarter of 2020, including provisional data for the end of this year. The COVID-19 impact caused a drop of 11,6% in the global turnover compared to 2019, but two operators out of three are ready to restart. Three keywords of the sector: solidarity, responsibility, resilience.

The voice of stakeholders

 

The trends and the policy interventions: the report by Confartigianato on the hard autumn is online.

After the economic disruption due to the Covid-19 emergency, the economy continues its recovery and relaunch process. The 8th Covid-19 report by Confartigianato analyses the Italian economy's recent trends and the characteristics of the Next Generation EU's financing plans. The report, "Towards hard autumn. The trends at summer end and the policy interventions," highlights how the digital technology interventions and human capital, considered for the "lighthouse projects," will have to support micro and small enterprises' competitiveness. The expansion of broadband and cloud services, strengthening education systems for digital skills and PA digitalization, and the relaunch of investments are key issues.

 

Covid effect on Italians’ incomes: 1257 euros less per family, according to Confesercenti.

Despite the amount of State aids, at the end of the year, each family will loose 1,275 euros per year averagely for a total of 32 billion euro annual income due to the health emergency and the following economic slowdown. The Confesercenti Economic Office carried out these estimates based on ISTAT, Svimez, and SWG elaborations. The families in Emilia Romagna will suffer the most considerable losses with an average decrease in income of 2,202 euros, equal to 64% of the total annual income.

Innovation

 

The Italian blockchain ecosystem: drivers, use cases and implications.

IBNO is the Italian Blockchain National Observatory, born from the collaboration between the Università Degli Studi di Napoli Federico II, Italia4Blockchain, and Cryptodiamond. One of the first studies was mapping the Italian blockchain actors, including a qualitative analysis of use cases and the effects produced. For example, 60% of the sample use technology to guarantee their activities' traceability to offer consumers a value-added service. 

 

INPS revolution: from October 1st the changeover from PIN to SPID.

No longer INPS PIN code. From October 1st, INPS, the national social welfare institution, will not release the PIN code any longer to access the online services. SPID will be the sole valid code to access the public digital identity system and dialogue with the Public Administration. Here for further details.

 

SMEs’ Welfare index: a strategic lever for a sustainable recovery.

Productivity rates increased by 6% in the companies which are more active in welfare, showing greater capacities to respond to the crisis and the emergency. The COVID-19 pandemic strengthened corporate welfare. This information is revealed by the SMEs’ Welfare Index Report promoted by Generali Italia under a Committee composed by Confcommercio, Confagricoltura, Confindustria, Confartigianato e Confprofessioni. 

The world of Mef

 

Edufin 2020: the financial education month restarts from the Covid Emergency.

The third edition of Edufin, the financial education month, began on October 1st. The initiative, organized by the Committee for financial education activities planning and coordination this year, focuses on financial choices in Covid-19 times. The event will last the whole month of October and involves associations, institutions, enterprises, universities and research centers, schools, foundations, public administrations committed in the financial education with events, conferences, webinars, cultural initiatives dedicated to adults, teenagers, and children. 

 

September 2020: the state sector needs 21,9 billion.

The state sector registered a slightly improved financial need thanks to more significant tax revenues due to the resumption of suspended payments following the Covid-19 pandemic emergency.

In September 2020, the state sector closed with 21,900 million needs, slightly improving compared to the same month of last year (-22,787 million).

 

National Recovery and resilience plan: Italy is in line with European indications.

EU economic, social and territorial cohesion, strengthening of resilience, mitigation of the Covid-19 impact, support to green and digital transition are the four general goals set by the European Commission for drafting the National Recovery and Resilience Plans. Regarding Italy, the National Recovery and Resilience Plan's structural intervention areas concern all macroeconomic areas, from digitalization, involving more intervention areas simultaneously, to Public Administration, to education and research through the production system competitiveness, justice, and health. During the hearing at the Senate, Minister Gualtieri reiterated that the Italian scheme follows the Guidelines published by the European Commission, according to which the Member States will present national plans including reform and investment proposals aimed to address specific problems.