Italian GDP will fall 9.5% this year
and by 13% if the coronavirus pandemic worsens, the Bank of
Italy said Friday.
"If significant hotspots develop, GDP may fall by over 13% this
year," it said in its latest economic bulletin.
"If the pandemic is kept under control in Italy and the world
GDP will fall by around 9.5%.
GDP will then rebound by 4.8% in 2021 and 2.4% in 2022, the
central bank said.
Figures will improve if the EU approves expansionary measures
currently being discussed, it said.
The Bank of Italy also said that business loans rose 11.5% in
the March to May period.
It added that production had risen in June but was still
significantly lower than pre-COVID levels.
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