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Bank of Italy: 'The recovery in 2021 will be slower than expected'

2020-11-24T21:12:48.756Z

This is the prediction of Eugenio Gaiotti, head of the Economics and Statistics department of the Bank of Italy, heard at a hearing on the maneuver in the budget committees of the Chamber and Senate. (HANDLE)



 The recovery in 2021 will be "likely to be slower than expected".

This is the prediction of Eugenio Gaiotti, head of the Economics and Statistics department of the Bank of Italy, heard at a hearing on the maneuver in the budget committees of the Chamber and Senate.

In the fourth quarter of 2020, he said "a decline in GDP is plausible, even if more contained than in the spring. It is likely that the result for the year will still be in line with what was forecast in October". 

"The magnitude of the macroeconomic effect of investment and reform projects will depend above all on their concrete definition within the National Recovery and Resilience Plan and their timely implementation. Great attention will be paid to the implementation phase, specifying the details and avoiding waste, delays and inefficiencies ", underlined Eugenio Gaiotti. "As we have emphasized several times, the Next Generation EU program - he added - is an opportunity not to be missed to relaunch the growth and productivity of the Italian economy".

Source: ansa

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