{"id":336671,"date":"2024-02-15T11:01:08","date_gmt":"2024-02-15T10:01:08","guid":{"rendered":"https:\/\/www.eunews.it\/2024\/02\/15\/italia-crescita-solo-07-per-cento-2024\/"},"modified":"2024-02-20T16:24:50","modified_gmt":"2024-02-20T15:24:50","slug":"italy-growth-stalls-only-0-7-percent-in-2024-last-in-2025","status":"publish","type":"post","link":"https:\/\/www.eunews.it\/en\/2024\/02\/15\/italy-growth-stalls-only-0-7-percent-in-2024-last-in-2025\/","title":{"rendered":"Italy, growth stalls: only 0.7 percent in 2024, last in 2025"},"content":{"rendered":"<p>Brussels &#8211; <strong><strong>Italy is losing momentum and, by 2025, will be again ranked last in the EU for growth rates<\/strong>. <\/strong>It is already struggling now, as<strong>\u00a0<strong>real GDP is estimated to grow 0.6 percent in 2023<\/strong>, <\/strong>slightly below the projections in the November economic forecast. In the Winter Economic Forecasts, the European Commission once again certifies the anemic nature of the\u00a0economy. Compounded by a deteriorating general environment,<strong> forecasts for Italy are also downwardly revised\u00a0<strong>by 0.2 percentage points to 0.7 percent for this year.<\/strong><\/strong><\/p>\n<p>For 2025, however, the picture ahead is mixed. The Italian economy will grow by half a percentage point, with GDP expected to expand from 0.7 percent to 1.2 percent, the lowest growth in the entire eurozone and even the European Union, albeit on par with Germany. It will still be at the last. In comparison, it will not do well. Drawing up economic forecasts for Italy, the Commission assumes that the country knows how to carry out reforms.\u00a0<strong>The underlying assumption is the implementation of the National Recovery Plan<\/strong>\u00a0(NRRP).\u00a0In Italy, &#8220;Investment is expected to accelerate in 2025, as the implementation of RRF-backed projects [Recovery Fund that finances the NRRP] gathers pace.&#8221; If not, the situation could deteriorate further: a message for the Meloni government and the majority parties.<\/p>\n<p>Economy Commissioner\u00a0<strong>Paolo Gentiloni<\/strong>\u00a0recalls &#8220;the flow of funding&#8221; underway for everyone, but to some more than others, as Italy is among the biggest beneficiaries of the EU recovery plan (68.9 billion euros in grants and 122.6 billion euros in loans).<span lang=\"en-EN\"><span class=\"ILfuVd\" lang=\"en\"><span class=\"hgKElc\">\u00a0<strong>Valdis Dombrovkis, <\/strong>responsible for an Economy that serves people, subtly hints to not slow the pace of reforms:<strong>\u00a0&#8220;<\/strong>EU funds, including the Recovery Fund, will continue to play a key role.&#8221; Reforms will be needed, and fast. The European Commission notes how <strong>investment in Italy has slowed considerably\u00a0<\/strong>due to rising financing costs and the phasing out of tax credits for home renovations. What helps Italy is the reduction in inflation.<\/span><\/span><\/span> The cost of living is lower: the Commission erases over half a\u00a0point, and\u00a0<strong>for 2024, inflation in Italy now moves to 2 percent from the 2.7 percent<\/strong><a href=\"https:\/\/economy-finance.ec.europa.eu\/economic-forecast-and-surveys\/economic-forecasts\/autumn-2023-economic-forecast-modest-recovery-ahead-after-challenging-year_en\" target=\"_blank\" rel=\"noopener\">\u00a0forecast three months ago.<\/a>\u00a0The Commission confirmed its forecast for 2025\u00a0at 2.3 percent, still in line and just above\u00a0the reference target. Reducing the cost of living could play an important role in the Italian economy, especially for consumption. &#8220;<span class=\"HwtZe\" lang=\"en\"><span class=\"jCAhz ChMk0b\"><span class=\"ryNqvb\">Economic output is forecast to continue growing slowly in 2024, with <strong>households\u2019 purchasing power expected<br \/>\nto benefit from disinflation and an increase in wages<\/strong>,&#8221; the Commission notes.<\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>European Commission cuts Italy&#8217;s GDP by 0.2 percentage points. From Gentiloni and Dombrovskis new calls for reforms and use of Recovery Fund<\/p>\n","protected":false},"author":494,"featured_media":336658,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[25705],"tags":[25881,25746,26888,26889,26896,26107,25882,25830,25883,25885],"class_list":["post-336671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-forecast-economics-winter-en","tag-dwinter-economic-forecast","tag-inflation-en","tag-investimenti-en","tag-governo-meloni-en","tag-paolo-gentiloni-en","tag-riforme-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/336671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/users\/494"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/comments?post=336671"}],"version-history":[{"count":6,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/336671\/revisions"}],"predecessor-version":[{"id":337835,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/336671\/revisions\/337835"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/media\/336658"}],"wp:attachment":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/media?parent=336671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/categories?post=336671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/tags?post=336671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}