The ministry said the data “does not influence the annual forecast formulated in the DEF.
“This growth target remains fully within reach and it will continue to be pursued with the (government’s) prudent, responsible economic policies that are appreciated and recognised as valid at the international level,” it added.
“The government will continue to work to guarantee the implementation of public investments and the NRRP (National Recovery and Resilience Plan) to support growth and favour a further reduction in inflation.”
As recently as last month, Finance Minister Giancarlo Giorgetti was claiming that the economy could possibly achieve growth of as much 1.4 per cent this year, buoyed by a tourist boom in the first full summer season since the pandemic struck.
That may come to be in the second half of the year, but the China-led global slowdown for manufacturing is taking its toll, just as it is hitting Germany’s economy, too, bloomberg.com said.
Weaker growth prospects and higher borrowing costs will make it more difficult for Prime Minister Giorgia Meloni to keep Italy’s mammoth national debt in check, some economists claim.
European Commission forecasts said the debt-to-GDP ratio remains above 140 per cent and is likely to stay little changed over the coming year.
ANSA
