The International Monetary Fund (IMF)
said Wednesday that it forecasts Italy's GDP will contract 12.8%
this year in the wake of the coronavirus emergency.
That is 3.7 percentage points more than the 9.1% contraction it
predicted in April.
The Fund sees the Italian economy bouncing back by 6.3% in 2021,
up 1.5 points on its April forecast.
The IMF sees Italy's debt-to-GDP ratio climbing from 134.8% in
2019 to 166.1% this year before it drops back to 161.9% in 2021.
It predicts Italy's deficit-to-GDP ratio will be 12.7% in 2020
and 7% in 2021, up from its April forecasts of 8.3% and 3.5%
respectively.
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