(ANSA) – ROME, MAY 16 – The European Commission cuts Italy’s growth estimates: GDP should fall to 2.4% in 2022 and slow to 1.9% in 2023, compared to 4.1% and at 2.3% expected in February, due to the impact of Russia’s war against Ukraine weighing on supply chains and prices. In its spring forecast, Brussels signals that “most of Italy’s growth” for 2022 is “attributable to a carry-over effect” linked to the “rapid recovery” recorded in 2021.
Due to the current geopolitical context “the outlook remains subject to pronounced downside risks”. Furthermore, according to the EU Commission, Italy, as “one of the major importers of Russian natural gas among EU countries”, “would be severely hit by abrupt supply disruptions”.
However – the EU Commission’s spring economic forecast continues – despite the war in Ukraine, the deficit and debt “will continue to decline but remain high”. The Italian deficit, from 7.2% last year, in 2022 will amount to 5.5% to fall to 4.3% the following year. Public debt, from 150.8% in 2021, according to European forecasts, will drop to 147.9% this year and 146.8% in 2023. “Current expenditure – it reads – has dropped significantly also in following the gradual abandonment of fiscal measures linked to the pandemic “. (HANDLE).
Source: Ansa
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