Italy forecasts 2021 GDP growth at 6%

Italy’s government forecasts that the economy will grow by 6 per cent this year, two government sources said on Tuesday, while the budget deficit will come in at 9.5 per cent of gross domestic product (GDP).

The 6 per cent GDP growth forecast is an upward revision from a projection of 4.5 per cent set in April, while the new deficit forecast of 9.5 per cent is a sharp reduction from the previous 11.8 per cent estimate.

The new forecasts were agreed at a meeting of key coalition figures yesterday. They will be formalised in the government’s Economic and Financial Document (DEF) to be approved by the cabinet today. (Reuters)