ROME, – The Bank of Italy said Friday that it has revised up its baseline forecast for GDP growth this year to 0.6%.<\/p>\n
\u00a0\u00a0\u00a0 That compares to the growth rate of 0.4% it forecast for this year in December and 0.3% in October.<\/p>\n
\u00a0\u00a0\u00a0 The central bank said that it estimates that Italy’s GDP rose by 3.9% in 2022.<\/p>\n
\u00a0\u00a0\u00a0 It said it expects the economy to grow by 1.2% in 2024.<\/p>\n
\u00a0\u00a0\u00a0 It added, however, that Italy would have negative growth of almost 1% in 2023 in the ‘adverse scenario’ in which Russia cut off energy supplies.<\/p>\n
\u00a0\u00a0\u00a0 The Bank of Italy said high inflation would cause the growth household consumer spending to slow to 1.5% this year, after it rose by 4.6% in 2022 as it recovered following the peak of the COVID-19 pandemic.<\/p>\n
\u00a0\u00a0\u00a0 It said soaring energy prices with to blame by over two-thirds for the high level of inflation. (ANSA).<\/p>\n","protected":false},"excerpt":{"rendered":"
ROME, – The Bank of Italy said Friday that it has revised up its baseline forecast for GDP growth this year to 0.6%. \u00a0\u00a0\u00a0 That compares to the growth rate of 0.4% it forecast for this year in December and 0.3% in October. \u00a0\u00a0\u00a0 The…<\/p>\n","protected":false},"author":473,"featured_media":8095,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[],"tags":[],"yoast_head":"\n