S&P confirms BBB credit rating for Italy, stable outlook

(ANSA) - ROME, APR 22 - Market intelligence group Standard & Poor's (S&P) on Friday confirmed its BBB credit rating for Italy and kept the outlook stable.
    Economic growth will slow in 2023 due to inflation and the tightening of credit conditions before picking up in 2024, the rating agency said.
    Fiscal consolidation is likely to be gradual and contingent on growth and political pressures, it added.
    "Premier Giorgia Meloni has so far taken a moderate and pragmatic approach in relation to Europe and budget policy," said the agency.
    The 2023 budget law maintained a degree of fiscal caution "in line with her predecessor Mario Draghi", it added.
    Italy's credit rating could come under pressure if debt does not fall and if "reforms are only partially implemented, especially those related to EU funds", said S&P. (ANSA).