29-Nov-17 13:06 - By Giulia Lombardo

What is the true state of Italy's economy?

In Spring Italy will hold its general elections. A clear picture of the economic situation of the country is therefore needed more than ever, but the truth is deep-set, and when it comes to economy, difficult to discern. According to the European Commission Vice-President Jyrki Katainen, Italy's accounts are not improving. In his opinion Italians should know what the real economic situation is in their country. Italian economy seemed finally to get underway, thanks to a stronger-than-expected economic growth and low interest rates, which reduced the cost of Italy’s huge public debt. In September, Gentiloni’s government increased its GDP growth forecast for this year to 1.5 percent from 1.1 percent, and rose next year’s outlook to 1.5 per cent from 1.0 per cent. The budget, approved in October, included measures to raise youth employment, tackle poverty and encourage investments before the election in the spring. However, the budget deficit might be lowered to 1.6 per cent of gross domestic product (GDP) from a targeted 2.1 per cent this year, avoiding in this way painful pre-election belt-tightening measures.

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29-Nov-17 13:01 - By Giulia Lombardo

Discontent at World Cup failiure

The elimination from next year’s World Cup in Russia is going to have costly and long-lasting impact on Italian economy. It may cost the country about 1 billion euros. The daily business paper Il Sole 24 Ore, pointed out the expected lower revenue related to ad-sales during matches broadcast on TV and on the sponsorship of the national football selection in the years to come. The Italian team won’t play any official matches until the beginning of the qualifications for the next European Championship, after the summer 2018. That implies that other friendly matches will attract less interest and money at all levels, including sponsorship and television rights. The economic loss could be extended also to missed sales for travel operators organising holiday packages to Russia, and the profit made by betting companies, bars and restaurants across the country during the matches.

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06-Nov-17 14:28 - By Giulia Lombardo

Smartphone app spots fakes

A new smartphone app is going to protect made in Italy products by helping consumers spot the difference between genuine Italian products and foreign fakes. The app was created by non-profit organisation Reliabitaly and it can be used in Italy or abroad giving also information on how the item was made. Reliability has committed to reinvest 100 percent of revenues in the promotion of authentic made in Italy products, its aim being to combat fake Made in Italy. The app uses bar codes to determine whether a product has been verified by them as being of Italian origin. When users scan the item they also get more information about its production methods, including photos, videos and technical details.

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