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GDP to slow to +0.6% in 2023 - NADEF

Cabinet Oks update to DEF economic blueprint

(ANSA) - ROME, SEP 28 - Italian GDP growth will slow to 0.6% in 2023, the government's update to its DEF economic blueprint, the NADEF, says, according to sources from a cabinet meeting Wednesday.
    This is down from 2.4% in the last DEF draft in April.

GDP is now projected to rise 3.3% this year, up from 3.1% in the April forecast.
After next year's slowdown to +0.6%, it will then rise to +1.8% in 2024 and +1.5% in 2025.
Inflation will keep rising for the moment but will start slowing before the end of this year, the NADEF said.
Italy's annual inflation rate reached 8.4% last month, the highest level since it was 8.8% in December 1985, according to provisional data released by ISTAT on August 31.
The inflation rate was 7.9% in July.
The national statistics agency said the rise was driven by higher energy prices, up by 44.9% in August, compared to 42.9% in July.
As for the budget deficit, the
NADEF sees it falling to 5.1% this year and 3.4% next, both below the earlier DEF forecasts.


    The outgoing cabinet of outgoing premier Mario Draghi approved the NADEF, sources said. (ANSA).
   

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