Giorgetti: ‘Purchasing power increases but Italians are afraid and save’

Rome, 17 April (LaPresse) – ‘Purchasing power has been decreasing for years’ but ‘it is certified that last year it increased by 1.3% due to fiscal policy, because contracts have been renewed, inflation has decreased’ but ‘alas, greater purchasing power does not automatically translate into greater consumption, the propensity to save increases, because people are afraid. They turn on the TV and see war every day, the trade war. And this is an understandable effect'. This was said by Economy Minister Giancarlo Giorgetti in his reply to the hearing before the Budget Committees of the House and Senate on the Public Finance Document. ‘Purchasing power on average has increased, Istat says so, but it does not translate into consumption, then I hope they take the Btp, which are quite successful. We make the United States envious,' Giorgetti joked, ’curious how the world changes.