Italy statistics bureau sees 2024 GDP growth far below government forecast

ISTAT cuts its previous projections for the Italian economy's growth this year and in 2024. The new forecasts are 0.7% for both years, significantly below the government's estimate. Rome faces challenges in maintaining growth momentum and meeting public finance targets. ISTAT's report also highlights that trade flows will not provide a boost to growth, and the economy is expected to slow in the coming months. The government's expansionary 2024 budget is projected to increase growth by 0.2 percentage points next year. Jobless rate forecasts have also been revised.

Italy statistics bureau sees 2024 GDP growth far below government forecast
ISTAT cuts its previous projections for the Italian economy's growth this year and in 2024. The new forecasts are 0.7% for both years, significantly below the government's estimate. Rome faces challenges in maintaining growth momentum and meeting public finance targets. ISTAT's report also highlights that trade flows will not provide a boost to growth, and the economy is expected to slow in the coming months. The government's expansionary 2024 budget is projected to increase growth by 0.2 percentage points next year. Jobless rate forecasts have also been revised.