Italy GDP to fall record 11.2% in 2020 - EC

Recovery road paved with uncertainty says Gentiloni

(ANSA) - ROME, JUL 7 - Italy's GDP will fall a record 11.2% in 2020, the European Commission said Tuesday.
    This is the worst fall in the EU, the EC said.
    GDP will bounce back 6.1% in 2021, the Commission said.
    The other worse-off countries are Spain (-10.9%), and France (-10.6%), the EC said.
    Brussels said "it will be an even deeper recession than expected and there will be wider divergences." European Economic Affairs Commissioner Paolo Gentiloni said "the summer forecasts show us that the road towards recovery is still paved with uncertainty".
    He said "the pandemic hit the European economy stronger than expected", despite the fact that "a cautious rebound is starting".
    The Bank of Italy had previously forecast a fall in GDP this year of between 9% and 13%. (ANSA).


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