Italian PM gives warning on economy

CNC
Added On February 14, 2018

Italian Prime Minister has said it is not the time for Italy to stray off the path of reform, which has brought the country out of recession.
 
Paolo Gentiloni made the remarks on Monday at the signing of a credit recovery protocol to free up financing for small and medium businesses, the backbone of Italy's economy.
 
Gentiloni said businesses need a favorable economic climate, confidence, and above all, credit, the "essential oxygen for their activity". 
 
He said credit to businesses stokes economic growth, generates jobs and reduces social inequalities. 
 
Economy Minister Pier Carlo Padoan said the agreement, also known as the Marciano Pact, will act as an "accelerator" to the process of shedding non-performing loans.
 
The Gentiloni government, as well as the previous administration of Matteo Renzi, fielded a number of reforms that succeeded in shoring up the country's credit and financial system.