The European Commission today cut Italy’s economic growth forecast due to the economic consequences of the crisis caused by the war in Ukraine.
More specifically, according to these forecasts, the country’s GDP is expected to grow by 2.4% this year and by 1.9% in 2023. Last February, the Commission had reported growth of 4.1% and 2, 3%, respectively.
Brussels stresses that “most of Italy’s economic growth this year is due to the positive effects of the significant GDP growth recorded last year”.
Finally, the European Commission emphasizes that “the country’s economic outlook is in danger of shrinking substantially”, while Italy’s public debt and public deficit “will continue to decline, but remain high”.
SOURCE: AMPE
Source: Capital
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