Italy lowers its growth forecast for next year. Compared to the estimates from the spring forecasts, the government in Rome is adjusting the growth prospects downwards.
Gross domestic product growth of 1.2 percent is forecast for 2024, up from the 1.5 percent increase in April, according to the economic planning document adopted by the government in view of the presentation of the 2024 draft budget .
In addition, the budget deficit target will be increased from 4.5 percent this year to 5.3 percent and next year from 3.7 percent to 4.3 percent. The government announced on Wednesday evening that the target for debt to gross domestic product (GDP) in 2024 will be reduced from 141.4 percent to 140.1 percent.
“The public debt has essentially stabilized as we should go from 140.2 percent in 2023 to 139.6 percent in 2026,” Economy Minister Giancarlo Giorgetti said at a news conference. Prime Minister Giorgia Meloni assured that all available resources in the budget law will be used to support low-income families. (sda/apa)
Soource :Watson
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