Moody's cuts growth estimates for Italy in 2021

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February 24, 2021 Moody's has

due to the resurgence of the coronavirus pandemic and the consequent social distancing measures introduced to contain it.

In particular, according to the classification agency, the product will increase by 3.7% this year, against the + 5.6% expected in November, and then accelerate to + 4.1% in 2022.

The problems related to the Covid and "its variants continue to cast a shadow over health systems and the economy around the world - the report reads - the level of uncertainty and strength of the economic recovery will vary from country to country.

but for some countries it will take longer to return to full capacity.

The fiscal and monetary policy response, as well as the management of the pandemic, will play a key role ".

Specifically for Italy - according to Moody's - the funds made available by the European Union" can support the country's growth prospects if used effectively for public infrastructures and other expenditure items in favor of growth ". And" the birth of the government led by Mario Draghi increases the likelihood of this happening. " 

One of the reasons is precisely the

. "The launch of a government of broad understandings led by Draghi is a sort of guarantee for the effective use of the 209 billion that Italy will receive from the European Recovery Fund by 2026". Moody's predicts this in its report on the Economy G20.