Italy's updated growth and debt forecasts revealed the country lowered its 2024 GDP growth projection to 1.0% from 1.2% predicted in September last year. Meanwhile, Italy's 2024 deficit-to-GDP ratio was confirmed at 4.3% whereas its 2024 debt-to-GDP ratio was cut to 137.8% from 140.1% in the previous estimate.
Italy also downgraded its 2025 GDP growth forecast to 1.2% from 1.4% predicted in 2023. For 2025, Italy foresees a deficit at 3.7% of GDP and a debt at 138.9% of GDP.
Despite the latest cuts in Italy's GDP growth projections for 2024 and 2025, both forecasts are still above those of the Italian central bank, the European Commission (EC), and the International Monetary Fund (IMF), which all suggest growth below 1% in each of the two years.