Italy’s economy to grow 4.1% in 2021

Italy’s virus-hit economy is expected to grow 4.1 percent this year and 4.2 percent in 2022 in an “uncertain ascent from the abyss,” the country’s business lobby Confindustria said on Saturday.

The Italian economy shrank by a post-war record of 8.9 percent last year, and Confindustria said even such “historically high” growth estimates would not make up for last year’s losses.

“At the end of 2022 the economy will have barely bridged the gap opened in 2020 by the pandemic,” Confindustria said as it announced its latest economic forecasts.

The national business association cautioned, however, that its estimates were based on expectations for progress on vaccinations in both Italy and the rest of Europe, and hinged on the coronavirus being “contained in an efficient way.”Reuters