The Parliamentary Budget Office (UPB) on Friday slashed its 2024 growth forecast for Italy from 1.1% to 0.8%.
It also shaved its GDP forecast for next year from 0.2% to 1.1%.
"The deterioration of the international context is weighing on growth prospects," it said.
"The outlook for the Italian economy is exposed to multiple risks, which are unfavorable on the whole", it said.
"The sources of uncertainty are mainly exogenous in nature as they stem from international factors, in particular geo-political (war in Ukraine and the Middle East), which could damage global trade," the UPB said.
"However, the robust recovery of international trade by 2024 is essential to materialize the acceleration of Italian GDP in the two-year forecast period."
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