The Parliamentary Budget Office (UPB)
on Friday slashed its 2024 growth forecast for Italy from 1.1%
to 0.8%.
It also shaved its GDP forecast for next year by 0.2% to 1.1%.
"The deterioration of the international context is weighing on
growth prospects," it said.
"The outlook for the Italian economy is exposed to multiple
risks, which are unfavourable on the whole", it said.
"The sources of uncertainty are mainly exogenous in nature as
they stem from international factors, in particular
geo-political (war in Ukraine and the Middle East), which could
dampen global trade," the UPB said.
"However, the robust recovery of international trade by 2024 is
essential to materialise the acceleration of Italian GDP in the
two-year forecast period."
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