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29-Nov-17 13:06. By Giulia Lombardo | Comments (0)

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 | Comments (0)

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 | Comments (0)

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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06-Nov-17 14:25. By Giulia Lombardo | Comments (0)

World Pasta Day

The 25 October is the World Pasta Day. This year the event reached Its 19th edition and took place in São Paulo, in Brazil, a country where pasta consumption is rapidly growing. The World Pasta Day was participated in by 250 representatives, pasta producers, institutions, scientists, journalists and food opinion leaders.

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06-Nov-17 14:24. By Giulia Lombardo | Comments (0)

Italy's salary gap between men and women is the lowest in the EU

Italy's salary gap between men and women is the lowest in the EU. It was revealed by Eurostat Publication “The life of women and men in Europe – a statistical portrait aimed at comparing women and men in their daily lives. It said that in 2015 women's average gross per-hour earnings were 16.3% lower for the EU as a hole. In Italy it was only 5.5% making it the lowest alongside that of Luxembourg.

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12-Oct-17 12:21. By Giulia Lombardo | Comments (0)

Porcini crisis

Bad news for Mushroom picking in Italy this year: this season will be the worst since the post war period! According to Coldiretti, mushroom picking lovers can only hope in the arrival of bad weather to have a chance to find them. The record drought of the summer has caused a poor production of mushrooms. The record hot summer has already provoked a poor harvest and prices exceed 35 euros per kilo for the most prestigious porcini. Due to the bad year, there is the risk that mushrooms imported from abroad will be sold as Italian mushrooms.

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12-Oct-17 12:19. By Giulia Lombardo | Comments (0)

Italy in pasta labelling conflict with the European Commission

Italy has recently passed two laws to ensure that all food producers label packs of pasta and rice to indicate from which country the ingredients come from. According to the European Commission, these types of “made in” labels undermine the single market by encouraging consumers to buy local. Italy is not alone in this way of thinking; more defensive economic policies have been requested by most European countries. The French President Emmanuel Macron, for example, is in favour of granting countries more leeway to protect workers against the menace of borderless free markets. This strategy has been seen as an attempt to fight anti-EU populists. Italy did not formally notify Brussels of its new origin labels, as the law demands. This was probably because the European Commission usually is very strict about countries introducing laws in the agri-food sector, as it is considered a way of undercutting the single market.

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25-Sep-17 12:24. By Giulia Lombardo | Comments (0)

The Italian economy is picking up speed?

Is the Italian economy picking up speed? ISTAT, the national statistics agency stated in its monthly report that the Italian economy is accelerating, driven by the widespread improvement in economic sectors and rising employment. This is quite surprising news if we consider that in the last year, Italy has had the worst performance in the single-currency area countries. Conversely, the gap between Italy and the rest of Europe has been narrowing: ISTAT reported a 4.4% year-on-year increase in industrial output and unemployment rate has fallen 0.4 percentage points during the second quarter of the year to 11.2%. Currently, Italian GDP is growing at 1.5% a year. That is still a little less than the 2.2%, achieved by the euro zone as a whole.

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25-Sep-17 12:21. By Giulia Lombardo | Comments (0)

Summer 2017 boom for the Italian Tourist Industry

Summer 2017 hit a boom for the Italian tourism industry and is on its way to being a record year. A further rise in arrivals throughout the autumn has been predicted by the Culture Ministry. According to figures of the Italian hotel trade association Federalberghi and the Cultural Ministry, almost 50 million people spent the night at an Italian hotel during June, July, and August this year. The exact number was 48.3 million. A further three million spent the night at an Airbnb accommodation, a remarkable 20 percent increase compared to last year.

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25-Sep-17 12:19. By Giulia Lombardo | Comments (0)

Italy faces one of the smallest wine harvests for 60 years

Italy faces one of the smallest wine harvests for 60 years. Drought, and frost account for the main reasons of this poor wine season. Italian wine body “Assoenologi” estimated that Italian wine production will be down by 25% on last year and coming in at 41.1 million hectolitres. Only the Campania region is likely to have a good production this year. The only consolation is that Italian wine is more than ever in demand abroad and drought might have favoured the good quality of grapes. Production will be less but probably of good quality because of better weather during flowering in several areas, and the long warm summer across much of Europe.

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