Istat said Thursday that it has cut
its GDP growth forecast for Italy to 0.5% this year and 0.8% in
2025.
This is a reduction of half a percentage point on the forecast
the national statistics agency gave in June for this year's
growth and by 0.3 of a point on the prediction for 2025.
The forecasts are well below the government's, which see GDP
rising 1% this year and 1.2% next.
The agency said the government's 2025 budget law will have a
positive impact on the economy over the 2025-27 period, boosting
GDP by slightly less than two-tenths of a point in 2025 and
2026, and slightly more than two-tenths in 2027.
"In 2024, GDP growth will be supported by net foreign demand
(+0.7 percentage points), while domestic demand will contribute
negatively (-0.2 p.p.)," Istat said.
"In 2025, however, the growth of the Italian economy will be
primarily driven by domestic demand (+0.8 p.p.)".
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