The Italian Economy’s Moment of Truth
The current global and macroeconomic outlook does not bode well for Prime Minister Giorgia Meloni, who campaigned last year on a promise to “lift up” the Italian economy. To make good, her government will need not only to unlock additional EU recovery funds but also to put them to the best possible use.
https://prosyn.org/NGciLeE
MILAN – Despite challenging global conditions, Italy’s economy has been faring relatively well. After slowing in the last quarter of 2022, GDP growth picked up in the first quarter of this year to reach an annualized rate of 1.9%. Yet even if growth were to accelerate slightly, we still are unlikely to see a repeat of last year’s overall performance, when the economy expanded by 3.7% – one of the highest growth rates of the last 40 years.