Italy set to cut economic growth projections for the year – report

Reuters reports, citing sources familiar with the matter

The report states that Italy is to cut its GDP growth forecast this year from 6.0% to 4.1% but is to hike its 2022 GDP growth forecast from 3.8% to 4.3%.

Adding that the forecast assumptions do not include the impact of the new stimulus package that is to be announced in April.

Stimulus or not, as long as the escalated virus situation in the region keeps as it is, it will continue to chip away at Europe’s economic performance in general.

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