Bank of Italy reduces the drop in GDP in 2020 to -9% from the previous estimate of -9.5% in July but shifts the recovery "by a few months" to 2021 where GDP will only rise by 3.5% against the previous one 4.8% forecast.
This is what can be read in the macro projections conducted in a coordinated manner with the ECB.
The economy will then rise by 3.8% in 2022 and by 2.3% in 2023. "The lower annual average figure of 2021 - underlines the central institute - is affected by the dragging effect of the decline in output in the final part of the year. 2020; growth is faster from the second quarter onwards and significantly stronger in 2022 ".