Italy has downgraded its growth forecasts for this year and next, while reaffirming its previous 2022 budget deficit target of 5.6% of GDP, according to a draft budget presented by Reuters.
In particular, the annual economic and financial estimates predict that GDP will grow by 3.1% in 2022, compared to the estimate made in the fall for 4.7%.
For 2023, it expects GDP growth of 2.4%, lower than the previous target of 2.8% set in September.
The deficit is expected at 3.9% of GDP in 2023, unchanged from the previous target
The new estimates are expected to be approved by Prime Minister Draghi’s government later today.
Government debt is expected at 147% of GDP in 2022, lower than the previous target of 149.4% and is expected to fall to 145.2% in 2023.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
