# Italy’s Giorgetti gets Meloni’s backing to be economy minister Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-10-14 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Giancarlo Giorgetti emerges as front runner for Italy's Meta Description: Former industry minister and League party deputy leader, Giancarlo Giorgetti, gains support for economy minister post amid coalition struggles after recent URL: https://financedigest.com/italys-giorgetti-gets-melonis-backing-to-be-economy-ministerhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-10-13t184213z2lynxmpei9c112rtroptp4italy-politics-1736815031175-compressed.jpg) By Angelo Amante and Gavin Jones ROME (Reuters) -Giancarlo Giorgetti, a former industry minister and the deputy leader of the right-wing League party, looked well placed to become Italy’s next economy minister on Thursday after getting the backing of the conservative coalition chief. “I think Giancarlo Giorgetti would be an excellent economy minister,” Giorgia Meloni, expected to be named prime minister this month, told reporters in parliament. The rightist alliance led by Meloni’s Brothers of [Italy group has been struggling to agree over Cabinet positions](https://www.financedigest.com/italy-probes-meta-over-abuse-of-position-in-music-rights-case.html "Italy probes Meta over abuse of position in music rights case") ever since it easily won a Sept. 25 election, with the key [economy job](https://www.financedigest.com/younger-chinese-are-spurning-factory-jobs-that-power-the-economy.html "Younger Chinese are spurning factory jobs that power the economy") proving particularly hard to fill. Giorgetti, considered one of the League’s most moderate, pro-European figures, has emerged as a front runner for the post which was initially widely expected to go to a technocrat in an [attempt to reassure financial markets](https://www.financedigest.com/jittery-markets-attempt-risk-on-rally-while-waiting-for-powell.html "Jittery markets attempt risk-on rally while waiting for Powell"). If the League wants me at the [economy ministry I’ll go there,” Giorgetti told reporters](https://www.financedigest.com/german-economy-expected-to-skirt-recession-economy-ministry-report.html "German economy expected to skirt recession – economy ministry report") shortly before Meloni’s comments, in a shift from previous, more cautious remarks. Earlier on Thursday he had told Reuters he wasn’t [sure whether he was up to the job](https://www.financedigest.com/how-to-make-sure-not-overlooked-for-the-top-jobs.html "How to make sure you’re not overlooked for the top jobs"). Meloni, on [track to be Italy’s first woman prime minister](https://www.financedigest.com/will-mays-new-minister-percy-keep-the-northern-powerhouse-on-track-post-brexit.html "WILL MAY’S NEW MINISTER PERCY KEEP THE NORTHERN POWERHOUSE ON TRACK POST BREXIT?") after Brothers of Italy outperformed its coalition partners at the election, is not due to formally name her cabinet team before Oct. 20. Giorgetti, first elected to parliament in 1996, was industry minister in Mario Draghi’s outgoing government and served for 10 years as president of the lower [house budget committee](https://www.financedigest.com/us-house-committee-chair-concerned-by-tesla-deals-in-china.html "US House committee chair ‘concerned’ by Tesla deals in China"). [Asked by Reuters early](https://www.financedigest.com/7-questions-to-ask-before-paying-off-your-mortgage-early.html "7 Questions to Ask Before Paying Off Your Mortgage Early") on Thursday whether he would be willing to become economy minister, he replied: “if you’re asked to do something you reflect and ask yourself if you’d be able to do it. I don’t know if I’d be able to be economy minister.” If he does get the job he will have a daunting task to keep the coalition’s tax-cutting promises without pushing up Italy’s huge public debt [worth around 150% of national output](https://www.financedigest.com/uk-oil-gas-firms-to-leave-years-worth-of-output-in-ground-with-tax-hikes-report.html "UK oil, gas firms to leave year’s worth of output in ground with tax hikes-report"). He will also need to tackle record-high inflation and [surging energy costs](https://www.financedigest.com/suedzucker-quarterly-profits-surge-73-5-despite-cost-rise.html "Suedzucker quarterly profits surge 73.5% despite cost rise") which are hurting firms and families. The Treasury forecast last month that the euro zone’s third [largest economy](https://www.financedigest.com/at-chinas-largest-trade-fair-exporters-worry-about-world-economy.html "At China’s largest trade fair, exporters worry about world economy") contracted in the third quarter and will continue to shrink until the second quarter of next year. A senior League lawmaker who asked not to be named told Reuters late on Thursday that it was now “extremely likely” that the coalition would pick Giorgetti for the post. (Additional reporting by Giselda Vagnoni, writing by Gavin Jones, Editing by Chizu Nomiyama) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---