Since its unification, Italy’s challenge has been the economic development of the South, the “Mezzogiorno”. 2022 has been a good year and the efficient utilization of the European Funds will be critical to a sustainable, market driven growth. Confindustria, Italy’s association of industries, and SRM, a think-thank, published the results of “Check-up Mezzogiorno” on the status of the economy in the south of Italy. According to its synthetic economic index, the economy increased 27 points vs 2021 and, for the first time in the last fifteen years, has surpassed 2007 levels. Mezzogiorno GDP is estimated to be 3.2% compared to 3.8% nationwide. Of the 2 million enterprises operating in the south, 390.000 are joint stock companies and increasing, + 4.3% vs 2021. Exports continue to drive the southern growth, €48.6 billion, 10.7% of the national export, where manufacturing accounts for by €45.8 billion. The south can leverage robust manufacturing assets in strategic sectors such as food, aeronautics, automotive, energy and pharmaceutical. Italy will enjoy the largest share of Next Generation EU funds, €191.5 billion, and it has allocated an additional € 30.6 billion with the National Plan for Complementary Investments. The government has pledged to allocate 40% of these investments to the South. How the local administrations will implement these funds will be of utmost relevance to, at last, win the southern challenge.
NEWEWST Editorial, December 17 2022
Fernando Napolitano
CEO NEWEST
