Italian economy grows 4.3% in 2022, but will slow in 2023

Italian economy grows 4.3% in 2022, but will slow in 2023
Photo: Franceso La Corte - Unsplash

RaiNews – The Italian National Institute of Statistics (Istat) has released a report demonstrating that the Italian economy will have grown 4.3% during 2022, but will slow to a growth of just 0.5% in 2023. 

The two-year forecast looked at a number of key indicators of the health of the country’s economy, demonstrating a mixed picture with various positive and negative indicators. On the one hand, the analysis shows that during 2022, the Italian economy has managed to reduce unemployment to around 8.1%, down from 9.8% in 2021. However, it is predicted that in 2023, there will be a slight increase to 8.2%. 

The analysis also looked at how the increased price of food and energy had affected inflation, which currently stands at around 8.2%. It is expected that a combination of reduced prices and the full implementation of public investment plans for 2023 could lead to inflation falling to 5.4% in 2023. 

Finally, on the question of GDP, the increases in growth this year in 2022 have largely been pushed forwards by an increase in investment in the economy, up around 10% this year. However, investment is expected to fall to a 2% increase in 2023, being a key part of the expectations for lower growth in the following year. 

Thank you for taking the time to read this article, do remember to come back and check out the EuroNews247 website for all your up-to-date European news stories.