EC sees Italy's GDP rising 6.2% this year

(ANSA) - ROME, NOV 11 - The European Commission said in its autumn economic forecasts on Thursday that it expects Italy's GDP to rise by 6.2% this year, by 4.3% in 2022 and by 2.3% in 2023.
    The Italian economy slumped by 8.9% in 2020 due to the COVID-19 pandemic.
    "Following the rebound in the first half of 2021, real GDP is set to continue expanding, albeit encountering some headwinds in the near term," the Commission said.
    "Domestic demand, notably buoyant investment spending, is expected to underpin growth.
    "Government deficit and debt are projected to decline as a share of GDP thanks to the economic recovery".
    In the summer the EC had forecast growth of 5% this year and 4.2% in 2022 for Italy.
    It said the Italian economy should returns to pre-crisis output levels by the middle of next year.
    "The outlook remains subject to pandemic-related downside risks, including the potential entrenchment of flagging labour force participation," it said. (ANSA).