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.
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