S&P affirmed Italy’s BBB rating and raised the outlook to ‘positive’ from ‘stable’. This is what emerges from the tables published on the rating agency’s website. The upward revision of the Italian outlook by the S&P is related to the Draghi government’s commitment to implement pro-growth reforms: “We expect a strong investment-driven recovery in 2021 and 2022″, with Italy’s GDP exceeding 2019 levels a year earlier than expectations”. Standard & Poor’s confirms this In a note, emphasizing that “the apparent strengthening of commitment to pro-growth reforms, and the positive consequences of growth on public accounts”, led to a revised forecast. Standard & Poor’s estimates for Italy GDP growth of 6% this year and 4.4% in 2022.
The Italian deficit will reach 8.8% of GDP in 2021, and will fall to 5.8% in 2022. This is predicted by Standard & Poor’s, since at the end of 2021 the public debt will be 144% of GDP. “The key to reducing high debt levels is growth,” says S&P, according to which the Draghi government must ensure that its ambitious reform program is implemented.
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