Italy’s GDP is expected to grow by 0.7% in 2024 and 1.2% in 2025: this is what we read in the OECD Economic Outlook published today in Paris. Activity, underlines the OECD, ”remains weak”.
“High inflation over the last two years has eroded real incomes, financial conditions remain restrictive and most of the exceptional aid linked to the Covid-19 pandemic and energy crises have been cancelled”, continues the Paris-based body , underlining that all this “weighs on private consumption and investment. The expected revival of real wage growth and the increase in public investment linked to funds from the Next Generation EU (NGEU) plan will only partially offset these difficulties”, he warns the OECD.
Placing the level of debt ”on a more prudent trajectory requires budget adjustments and structural reforms”: this is the message launched by the OECD to Italy, on the occasion of the publication of the Spring Economic Outlook in Paris. In the document, the OECD underlines that our country’s public debt will contract ”while remaining above 3% until 2025”. In this context, warns the OECD, ”a large and lasting budget adjustment over several years will be necessary to address future tensions on spending, while placing the debt ratio on a more prudent trajectory and respecting the new budget rules of European Union”.
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