MNI BRIEF: Global Uncertainty An Opportunity For Italy-Panetta
MNI (ROME) - Current global uncertainty presents development opportunities for Southern Italy, as recent geopolitical shocks have highlighted the risks of offshoring, Bank of Italy Governor Fabio Panetta said Thursday.
“Businesses in major economies are now placing more emphasis on securing investments and the supply of strategic inputs, particularly energy,” Panetta noted in an event in Catania, emphasising the need for additional infrastructure investment in the South, beyond what is outlined in Italy’s NextGenEU programme, which allocates 40% of resources to the region.
Since the pandemic, Southern Italy has grown at a faster rate than the rest of the country, with GDP rising by 3.7% compared to 3.3% for the wider economy, while also generating more jobs.