Officials said after talks with business and banking representatives on Tuesday that the measures would begin with a decree by the end of this month to give the private sector fiscal incentives to invest in infrastructure and broadband internet. Mr Tremonti’s new proposals include incentives for a private sector project to build an €8 billion highway from Rome to Venice along the Adriatic coast.
Further decrees by the end of the year would aim to liberalise the services sector and pave the way for more privatisations, primarily of utilities owned by local authorities. Growth forecasts for Italy are also being cut. The IMF on Tuesday slashed its GDP projection for 2012 to 0.3 per cent from 1.3 per cent. S&P also considered a negative scenario in which Italy’s economy would contract by 0.6 per cent next year.
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