Moody's revises down Italy's 2021 GDP forecast to 3.7%

(ANSA) - ROME, FEB 24 - Moody's said Wednesday that it has revised down its GDP growth forecast for Italy this year to 3.7% from 5.6%.
    The rating agency said this was due to an increase in COVID-19 contagion and the renewal of restrictions to combat the spread of the coronavirus.
    It said it expects Italy's GDP to rise 4.1% in 2022.
    It added that the arrival of Premier Mario Draghi's broadly backed government is a guarantee that the 209 billion euros Italy will receive in grants and low-interest loans from the EU COVID-19 Recovery Fund will be well spent. (ANSA).