After the strong acceleration of 6.6% in 2021, Italy's Gross Domestic Product is "hit by the war", with growth decreasing to 2.5% in 2022 and to 1.2% in 2023: this is what writes the OECD in the Economic Outlook presented today in Paris.
The "persistent inflationary pressures" linked to the Russian war in Ukraine and "uncertainty are holding back household consumption, slowing down the recovery of services", continues the OECD, adding that new incentives for the private sector and the NRP "will mitigate part of the 'negative impact".
Italy's unemployment rate will drop from 9.5% in 2021 to 9% in 2022, and then rise again to 9.3% in 2023: this is what emerges from the OECD Economic Perspectives.
The Russian war in Ukraine caused a "marked slowdown in growth", reads the fact sheet dedicated to Italy in the OECD Economic Perspectives presented today in Paris.
"Economic activity - the note continues - slowed further in the first half of 2022. Growth settled at 0.1% in the first half of 2022, the effect of the restrictions imposed in January due to Covid. 19 combined with war-related inflation and shocks to supply chains and confidence. Global inflation progressed to reach 7.3% in May, under the effect of the price flare. "
"Food inflation should remain high for the entire period considered by the economic forecasts": this is what is stated in the fact sheet dedicated to Italy in the OECD Economic Perspectives presented today in Paris.
"The increases in wages - warns the OECD - will not completely compensate for the expenditure that families will have to bear due to the increase in the cost of living".