#SoseXpress - Pressreview June 27th/July 3dr

“The path towards relaunch is narrow and upward. It is necessary to have courage and determination, tenacity, stubbornness, and spirit of sacrifice. These are the qualities of this region that speaks today to whole Italy to say that together we can look to the future with confidence.”

Speech of Sergio Mattarella, President of the Italian Republic, in Bergamo.

The Debate of Ideas

 

Nine giants write to the EU for a more resilient, sustainable, and prosperous Europe.

Collaboration is the key to achieving the goals of the European Green Deal. With this premise, nine European giants, among which ENEL, addressed a joint letter to the EU institutions. The CEO Initiative for Europe’s Recovery addresses issues including employment, technological investments, renewable energies, and fiscal reforms in Europe.

 

Here is how Italy faces the crisis.

"Stress test Italia," the report by Censis about the resilience of the Italian society during the Covid crisis, has been published.

According to Giuseppe De Rita, chairman of Censis, it is a self-awareness exercise for the Country, focused on analysing some significant social subjects' behaviors during the weeks and months of deep crisis. 

 

A Country in chiaroscuro according to ANAC Annual report.

633 anti-mafia interdiction measures (in 2019, (+10,5%), over 70 interdiction measures more compared to 2018. They amount to over 2500 in five years. In 2019 ANAC put 4 public contracts under compulsory administration (44 from 2014). The Covid-19 emergency has shown how mafias can change, taking advantage of the situation. These are some of the contents highlighted in the ANAC 2019 Report, including an analysis of the first months of 2020.

Studies, Researches and Numbers

 

The Report on the 2020 budgetary planning of the Parliamentary Budget Office.

The Italian GDP could decrease by 9% in 2020. This datum is revealed in the PBO 2020 Report analyzing the COVI-19 pandemic impact on international and national economies, the provisions implemented by the European institutions and the Government, and the effects of the adopted measures. 

 

2020 Annual Report. The situation of the Country according to ISTAT.

Gian Carlo Blangiardo, Chairman of ISTAT, presented the 28th edition of the Annual Report on Italy. Based on the information collected in the most crucial period of the Covid crisis, the document analyses the ongoing changes and, among other issues, the strengths and the weaknesses of the business system, detecting the possible immediate effects of the recession. 

 

How much the Italian Tax Authority is losing in Europe.

Due to the European unfair tax competition, the Italian tax administration is losing the possibility to tax profits for over 23 billion dollars. 11 billion are shifted in Luxemburg, over 6 billion in Ireland, 3,5 billion in Holland, and over 2 in Belgium. The data provided by Roberto Rustichelli, Chairman of Antitrust, stimulate the public debate about unfair tax competition within Europe.

 

A summary of the survey on industrial and service firms by Banca d’Italia.

In 2020 firms’ turnover is expected to fall by about 7%. Bankitalia reveals this information in the Survey on Industrial and Service Firms concerning sales, prices, production, expected turnover variation, employment, and investment expenditure.

 

The “Regional Economies” series by Bankitalia, the last updates.

The series “Regional Economies” by Banca d'Italia has been updated and provides a framework of the lockdown's impact on the different geographical areas of the Country.

 

Food&Beverage: the thematic survey of The European House Ambrosetti.

The thematic Report realized through surveys by The European House Ambrosetti catches the Covid-19 impact on the sector Food&Beverage. 56,7% of the firms estimate that the health emergency's crisis will negatively affect the turnover for all 2020. About half of them expect that their turnover will decrease by over 20%. The whole sector will undergo a 1,9 % contraction of total turnover.

 

ISTAT: the data of the quarterly financial account of the PA and the estimates on households.

Households' income has decreased by 1,6% compared to the preceding quarter, while the final consumption expenditure decreased by 6,4%. Families' propensity to save is estimated at 12,5%, increasing by 4,6 percentage points compared to the fourth quarter of 2019. These are some data provided by ISTAT in the quarterly financial account.

 

ISTAT update on industrial, construction and service producer prices.

In May 2020, industrial producer prices are expected to decrease slightly compared with the previous month (-0,1%) and sharply on an annual basis (-5,3%). On a monthly basis, domestic market prices decreased by 0,3% and by 7,2% on an annual basis. ISTAT provides this data in the information note on industrial, construction, and service producer prices.

 

Hi Italians, how are you?

The weekly report, including the data produced by Euromedia Research to monitor the country's post-COVID climate, has been published. 62% of the interviewees are afraid of the future, but the present can be defined as the time of indecision and uncertainty. 

 

Employment developments in Italy.

In May 2020, compared with the previous month, the decrease in employment continued – at a slower pace – and unemployment returned to grow, against a marked drop of inactivity. After two months of rapid decline, also the number of per-capita worked hours is increasing. The note published by ISTAT provides this information as regards employment and unemployment.

 

Subsidiarity and sustainable finance: the annual report.

According to the recently published XIV Annual Report by “Fondazione per sussidiaretà,” the COVID crisis has accelerated a careful political-cultural analysis of the 2008 financial crisis and still far from ending. Here to access the contents.

The voice of stakeholders

 

 

Rapid survey of Confindustria on industrial production.

After the resumption of the industrial and service activities from May, the increase of demand, although modest, has relaunched the offer that in the last two months of the survey has registered significant percentages. The levels remain extremely low and very far from those recorded in the pre-COVID period (the index of production registered a 21,4% decrease compared with January). This information is reported by the rapid survey of the Research Department of Confindustria.

 

Confartigianato: reactivity signals by MSEs.

MSEs show scattered signals of resilience. Within the next 12 months more than one MSEs out of two (53,3%) is implementing a change to face the crisis: the activation of new sale channels (26,1%), changes in the internal organization (21,9%), improvement of customers (17,4%), new relationships with other enterprises (14,3%) and new markets (14,2%). These are some data on the thematic survey of Confartigianato.

 

Confesercenti: decrease of households’ consumptions.

Although companies have resumed the activities from May, the balance of the first six months of the year is severe, with an average decrease in the expenses of 1.879 euros per household. 

 

Confimprese-EY Observatory: consumption fall in May.

Consumption also halved in May, which registered a total decrease of 57%, including commerce, after the collapse of March (-78%), and April (-90%). The Confimprese-EY Observatory reports that in the first 5 months of the year, the physical channel decreased by 46%. Here for further information.

 

4 challenges for a Country; CERVED survey for AIBA.

Sustainability, business stability, health system development, and digitalization are the challenges that CERVED has identified by a survey realized for AIBA and aimed to investigate the Covid-crisis impact on the Italian system and the development of the insurance demand. 

 

First ALI-Confcommercio Observatory for bookshops in Italy: alarming data

More than 90% of the Italian bookshops have registered a worsening of their business after the health emergency, and more than 84% are not able to meet the need for liquidity. The first ALI-Confcommercio Observatory raises the alarm on bookshops in Italy. 

Innovation

 

 

Virtually everywhere? The paper by the European Central Bank on the economic impact of digitalization.

The paper that analyses the weight and the impact of digitalization on the European economies on the Euro Zone is online. One of the investigated issues is the comparison with competitors, such as the USA. Here for information.

 

Smart-working and research: pilot survey by CNR.

During the lockdown Irpps–Cnr realized a study investigating limits and opportunities of smart-working development in the Italian public research institutes. The results are presented and discussed here.

Local authorities

 

Relaunch Decree: the FAQs for Local Authorities

IFEL has published the answers to the most frequent questions concerning liquidity to support local authorities in the payment of their commercial debts. The answers have clarified essential aspects, such as the representation of the debt on the Trade receivable platform, the Municipal debts towards other institutions, and the possibility for institutions in crisis to apply for an advance.

ISAs

 

Extension of deadlines for taxpayers subject to ISAs and flat-rate regime.

The Government has extended the deadlines for the payment of the tax balance, and the down-payment of IRPEF and VAT for taxpayers subjected to ISA and flat-rate taxation regime.

The world of MEF

 

Liquidity implementation task force update.

The applications for debt moratoriums are more than 280 billion, and over 740.000 applications have been submitted to SME Guarantee Fund. Sace granted guarantees for 8 billion, and the applications were 142. 

 

The payments by the Public Administration are more punctual: in 2019 the average delay decrease to one day.

In the light of the data from the IT system of the Trade receivable Platform” (PCC) collected in May 2020, the Public Administration received in 2019 29,1 million invoices for a total amount of 148,2 billion euro. 24,5 million invoices, amounting to 140,4 billion euros, and 94,8% of the total, were paid. The average time to settle the invoices was 48 days in 2019. 

 

In June 2020, the overall State sector closed with a borrowing requirement of 21 billion.

In June 2020, the state sector closed with a borrowing requirement of 21.000 million on a provisional basis, worsening by 20.100 million compared to the result of the same month of last year (903 million). The borrowing requirement in the first six months of the year amounts to about 95.500 million, increasing by 62.000 million compared to the same period of 2019. 

 

Tax wedge reduction from July 1st, 2020.

16 million public and private employees will receive a higher salary thanks to tax wedge reduction—a monthly increase of 100 Euro. Mef has provided these data in a thematic infographic.