ISTAT said Tuesday that Italy's GDP
fell by 8.8% in 2020 with respect to the previous year, in a
preliminary estimate based on raw quarterly data.
The national statistics agency said the drop was 8.9% according
to its calendar-adjusted estimate.
The figures are slightly better than the fall of 9% estimated in
the government's NADEF economic blueprint after the COVID-19
pandemic plunged Italy into recession.
Economy Undersecretary Pier Paolo Baretta said GDP would
rebound 5-6% this year if COVID ends. The NADEF forecast is 6%.
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