#SoseXpress – Press review May 17th/22nd

We must exit the recession as soon as possible and become a more dynamic and inclusive Country. We can do it, we need cohesion and foresight

Daniele Franco, Banca d’Italia, interviewed by Corriere della Sera

Debate of ideas

European Commission recommendations issued

To accelerate EC economy modernization starting from green and digital transition. This is the recommendation of the Commission to its member States dedicating specific indications to each country-. According to the Commission Italy’s weakness lies in the relationship between State-and Regions: the governance fragmentation of the National Healthcare System and the fragile coordination have hindered COVID containment. 

Phase 2: The risks to face in the next 18 months according the World Economic Forum.

350 experts answered the questions of the World Economic Forum aiming to identify the most significant risks to face in the next 18 months. Economy, cybersecurity, environment and social tension are some key issues.

Policy should not hold back wealth production

To defend the national interest means to defend producers. This is requested by a group of economists and academics leaded by Giulio Sapelli. 

Studies, researches, and numbers

ISTAT information note about turnover and orders of Italian industry in the month of March

ISTAT estimated a 25,8% decrease in industry turnover in March compared to February, without considering seasonal factors. In the first quarter of 2020 the index decreased averagely by 6,6%. 

Eurostat calculated the impact of Covid 19 on the international trade of goods.

The total value of extra- EU trade (import+export) decreased from 252 billion euro to 228 billion euro from January to March 2020. This is the result of this Eurostat survey

ISTAT: the information note on production in building sector published

According to ISTAT the seasonally adjusted index of building sector production decreased by 36,2% in March 2020 compared to the preceding month. In the first quarter of 2020 the production in the building sector decreased by 6,8% compared to the preceding quarter. 

Inps numbers

The numbers provided by Inps have been long discussed due to the statistical note “Mortality analysis” during the covid-19 pandemic . Some of the published updates: data on indemnity payments, the report on occasional employment, the numbers of Osservatorio Cassa Integrazione Guadagni referred to the month of April 2020 (772.298.874 hours authorized, an increase of 2.953,6% compared to the same month in 2019) An overview about the labour trend was provided by the hearing of Chairman Tridico 

Tender “Impresa Sicura”: Invitalia data are online

249.681 refund applications related to expenses incurred for individual protection tools and devices have been submitted, 208.826 were considered valid for a total amount of 1.207.561.075 euro. Only 3150 applications were accepted. 

BCE information and updates

Online the update about the measures adopted by the European Central Bank to fight Coronavirus emergency.

Covid-19 impact on quarterly accounts according to Mediobanca

Manufacturing companies produced the worst results of the first quarter of 2020 with a 11,8% decrease in revenues. We report data of a survey elaborated by Mediobanca Research Department concerning the aggregate accounts of 25 listed companies and 150 multinational corporation

The voice of Stakeholders

Bonomi explains the “new” Confindustria manifesto

In an interview published by “il Sole 24 ore” Carlo Bonomi explains the priorities of “his” Confindustria for the prosperity of the Country. Some of his goals are regaining the GDP loss, reforms structural reduction of Italian maxi debt, investments for innovation, research, sustainability, and human capital. 

Confcommercio: shops and coffee shops has overcome the restart phase

After over two-month closure on the restart day 90% of clothing shops and 70 % of coffee shops and restaurants opened. This is reported by Confcommercio in a detailed analysis of the sectors which aggregates the data of the surveys elaborated by Trade Associations. 

The economic situation according to Confcommercio: a 47,6% decrease in consumption in April

The Confcommercio Research Department has published a note reporting a 47,6% decrease in consumption during the lockdown, while the GDP loss in May was equal to -16%. 

How consumptions change: a region by region picture

The estimate of territorial consumptions elaborated by Confcommercio shows a strong heterogeneity of consumption prices in the different local realities from a constant price reduction of 4,1% in Molise (the lowest) up to 17,2% in Valle d’Aosta (the highest).

Confartigianato: Covid-19 infects business demography

Covid-19 crisis has caused a drastic decrease non only in investments but also in the growth rate of enterprises. Craft enterprises have decreased by 10.902 units, a rate of -0,84%. 

Uilca Report on the more significant economic results of Italian banks is online

The financial and economic data analysis of the main Italian banks at 31 March 2020 elaborated by UILCA was published. 

Innovation

Agid security guidelines for ICT procurement are online

Agid has published the guidelines dedicated to the PA and the suppliers to guarantee that goods and IT services purchased by public subjects through tenders and framework agreements comply with adequate security standards.

The impact of blockchain technology on the financial sector according to CDP

The blockchain technology can be a great opportunity for the financial sector thanks to a radical paradigm shift. CDP in collaboration with SIA Spa and IBM realized a white paper to analyse the potentialities of completely new business models. 

The sprint of online commerce

According to Unioncamere the online retail enterprises amount to over 23 thousand and have increased by 10 thousand units in the last 5 years, while in the whole sector the number of operators has decreased by 45.000 units. 

Local authorities

The weight of COVID-19 on the finance of Italian Municipalities

A 1,6 billion euro decrease in local taxes was registered by Municipalities in the months of March and April compared to the same period of 2019. Local Authorities with more critical financial situations are in Emilia-Romagna, Puglia, Sicily, Tuscany and Veneto. (study by Demoskopika )

News and (funds) from the Conferenza Stato-Città

On May 21st the Conferenza Stato-Città e autonomie locali approved the draft of the Prime Ministerial decree providing for a contribute of 75 million euro from 2020 to 2023 for investments in social infrastructures in municipalities of South Italy and islands and the draft of MIT decree financing extraordinary maintenance interventions on the road network of Provinces and metropolitan districts. An agreement concerning maintenance and energy efficiency interventions in the schools of Provinces and Metropolitan districts was signed as well. 

The MEF world

Record Placement for BTP Italia

The 16th issuance of BTP Italia aimed at financing measures in response to COVID-19 emergency marked a historical record. The amount placed was equal to 22.297,606 million euro.

Relaunch decree: infographic by infographic

On MEF website an analysis of the Relaunch decree was published that provides an overview of the measures aggregated by thematic area. Infographics, numbers and a clear language. 

Relaunch decree, guidelines on fiscal measures

The Revenue Agency published the guidelines for fiscal measures included in the Relaunch Decree in 32 summary tables. 

The update of Liquidity Task force is online

The update of the liquidity task force was published: the requests for loan moratorium were 2,3 million and the requests to the Guarantee fund for SMEs were 280.000. Sace grants guarantees for 152.000 million, the requests were 17. 

Banca d’Italia , update on the measures adopted to fight -Covid

Banca d’Italia has published online the measures introduced to promote guaranteed loans and access to credit by SMEs in addition to the Additional Credit Claims (ACC). 

What is necessary to know according to Edufin Committee

On the website quellocheconta.gov of the Edufin Committee the most significant contents for the financial education of citizens updated with anti-Covid measures were published. Also, the letters of the director, Annamaria Lusardi, are online in the new section Dalla Scrivania di Anna.

Report on tax and contribution revenues

Tax and contribution revenues in the first three months of 2020 increased by 3,6% (+5.668 million euro) compared to the same period of 2019. This information is contained in the Report on tax and contribution revenues elaborated by the Department of Finance and the State General Accounting Department.