The Bank of Italy lowers its economic growth forecast for the next three years

People’s Finance News, April 4. On the 3rd local time, the Bank of Italy released its latest macroeconomic forecast report, lowering the country’s expected economic growth for the next three years. The report forecasts that Italy’s 2026 gross domestic product (GDP) growth will be 0.5%, lower than the previously predicted 0.6%. The 2027 economic growth outlook has been cut from 0.8% to 0.5%, and the 2028 forecast has been reduced from 0.9% to 0.8%. The Bank of Italy said the main reason for lowering the growth outlook is that conflicts in the Middle East have led to higher energy prices, adding to economic uncertainty. At the same time, the slowdown in global trade growth will also have an adverse impact on Italy’s exports. The report notes that there is a high level of uncertainty in Italy’s current economic outlook, and that the future direction of the economy will, to a large extent, depend on developments in the Middle East and changes in energy prices. (CCTV News)