The Finance Secretariat has confirmed the rating at “BB +” which positively revises the outlook, bringing it to “stable” from the previous “negative”.
The problem is that your Secretariat, dear Gatti, has very little to do with this result.
In fact, as we read in the document, an applause should be given to our entrepreneurs, whom they should thank and above all support, instead of always putting a spoke in their wheels. According to Fitch, in fact, “the recovery is driven by the strong rebound in the tourism and manufacturing sector (one third of GDP) supported by faster growth of the main commercial partner of San Marino, Italy (latest growth forecast at 5.7% for 2021). These factors will also drive growth in 2022 and 2023, when we expect the economy to expand by 3.5% and 2.5% respectively ”.
According to the rating agency, moreover, “the start of introducing reforms of the income tax and the pension system in 2022, while the timing of the VAT reform remains uncertain”. It also states that there is “the impossibility of placing the debt on a downward path in the medium term, due to a prolonged period of low growth or the inability to consolidate tax accounts, for example due to the failure to implement tax reforms “.
Here, in fact, are the reforms. Dove am I? This majority, very large in numbers, should be that of the reforms, at least in words.
Instead we continue to navigate on sight, we are growing half less than neighboring Italy, we are in tow both in tourism and economics, we have already spent all the debt on banks and current spending without concrete support for businesses, politically the majority argue over everything and it is not possible to resolve the “green pass” grit.
Fewer photos and less proclamation please. Facts are needed!