European Commissioner for Economic
Affairs Paolo Gentiloni said Monday that economic slowdown is
not an issue only for Italy and that he is confident the economy
will react well.
The predicted slowdown in growth announced in the EU's Summer
2023 economic forecast "is not specific to Italy but involves
several countries and I am confident that the Italian economy
can react positively, as it has shown on many occasions," said
Gentiloni.
The forecasts for Italy "are in line with the eurozone and the
EU" and linked, among other things, to the "decrease in domestic
demand", he continued
The second reason for the drop "is the difficulty faced by
industry", added Gentiloni.
Further, he said the tightening of monetary policy in response
to high inflation "plays a particular role in a country where a
significant amount of investment in the economy depends on bank
financing, relatively more than in other European countries".
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