Confindustria President Carlo Bonomi
said on Thursday the 2024 budget will be a "test bed" for the
government, the day after it approved the NADEF update to the
DEF economic and financial blueprint that provides the
macroeconomic framework for the law.
"The big test bed will come with the next budget law, the one
that is coming now," Confindustria president Carlo Bonomi said
in an interview to the German daily Frankfurter Allgemeine
Zeitung (Faz) in response to a question on his level of
satisfaction with the government's economic policies.
"The draft texts are not yet available, and so I prefer to wait
until I can assess them in order to give judgements," Bonomi
added.
The Industrial chief also said the government had "acted
correctly" in reducing the subsidies available to people
carrying out green home improvements under the 'Superbonus'
scheme "because it was very expensive for the state".
On the interest-rate hikes enacted by the European Central Bank
(ECB) and the Federal Reserve in order to combat rampant
inflation, Bonomi said they had been a "huge mistake"
"We come from a decade of negative rates" and this "was an
anomaly", he told the FAZ.
"But the sustained pace of rate hikes has been due to a huge
mistake by the Fed and the ECB, which considered inflation to be
an entirely temporary phenomenon," continued Bonomi, adding that
now "a balanced approach" is needed.
On Italian industry, the Confindustria president said the sector
"is unfairly underestimated".
"We suffered three major crises in 2008, 2010 and 2011. We took
some serious hammering. But the lashing has been put to good
use," continued Bonomi, saying that "tens of thousands of
Italian companies have strengthened their assets, entered global
value and supply chains, invested in research and development,
built new distribution chains in foreign markets".
"We have diversified our exports, we are much less exposed to
China than Germany. We may not have great international
champions like France or Germany, but if you look across all
export sectors, medium-sized Italian companies are always in the
top rankings in their respective sectors of global trade," he
concluded.
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