• Def, towards deficit at 10.4% and debt / GDP at 155%

Share

April 23, 2020 "Although the coronavirus will lead to a strong economic shock that will bring Italian public debt to record levels, the creditworthiness will remain unchanged given the temporary nature of the crisis and in light of the low financing costs" of the debt.

Moody's wrote it in a report on Italy. The current crisis, continues the rating agency, will lead Italy to a "hard contraction in the first half of the year which will be followed by a recovery from the third quarter with a strong rebound in 2021". However, fiscal stimulus packages and more attenuated tax revenues will bring the 2020 deficit to around 8-10% of GDP and the 2020 public debt to at least 150% of GDP.