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.
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