The recovery “exists and is stronger than expected”, but for consumption “it will be necessary to wait until 2023 to return to the pre-Covid situation, while some signs of economic slowdown are already emerging”: this is underlined by the president of Confcommercio, Carlo Sangalli, in an interview with Corriere della Sera.
“There are potential braking factors on the international level”, Sangalli warned, “delays in vaccination campaigns in many disadvantaged areas of the world, bottlenecks in supply systems, acceleration of inflation”.
In particular, Confcommercio estimates for our country a tendential increase in inflation of around or above 3% for October, as a result of energy costs, but not only. According to Sangalli “inflationary risks require the utmost attention because, beyond the losses in purchasing power that would slow down consumption, any changes in the orientation of monetary policy, which has so far been rightly flexible, would have really significant effects. Above all with a debt high”.
The president of Confcommercio reiterated the request to “reduce the tax wedge on labor and proceed with the gradual overcoming of IRAP. Excluding any hypothesis of a VAT increase”.
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