Ukrainian war, serious economic consequences also for Italy
The risks are enormous. Also and above all for Italy, where the industrial production continues to lose ground. In February, according to the rapid survey by the Confindustria Study Center cited by Il Messaggero, the contraction was 0.3 percent, after the 0.8 percent decline already certified in January. “This is a figure that does not take into account if not a small part of the effect of the war unleashed by Vladimir Putin against Ukraine”.
The impact, the Messenger always explains, “is felt in two forms: on the one hand with the further increase in pressure on energy prices, which could remain at exceptionally high levels for much longer than expected; on the other with the specific effect of the sanctions and in general of this phase of crisis on the most exposed sectors: from fashion to tourism “.
Other worrying data: “In February the index of the purchase intentions of the companies, referring to manufacturing, was confirmed at an unchanged value compared to that of January (58.3 points), which was the lowest since February 2021. And the confidence of manufacturing companies fell from 114.9 to 113, 7. A dynamic that according to the CSC “reflects the difficulty of industrial companies in coping with the rise in energy prices”.
War in Ukraine, Edison’s CEO: “Too tied to Russia, gas is a dramatic problem”
He also talks about the economic consequences of the war Nicola Monti, Edison CEO, in an interview with La Stampa. “After the pandemic, we expected a phase of greater tranquility, with new investments and growth”. Instead, “we have had a bath of reality that has thrown us into a harsh and complex scenario: the economy is slowing down, consumption is dropping, everything has an impact on recovery plans”.
The picture of energy dependence is clear and worrying: “Europe’s dependence on Russia is strong. Too. We have invested little as a country in diversification and this poses a dramatic problem, in perspective, if supplies were to stop. If so, they would not be immediately replaceable. We pay for a policy of scarce diversification of gas sources and routes. It applies to Europe and Italy “.