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The Bank of Italy lowers its economic growth forecast for the next three years
On the 3rd local time, the Bank of Italy released its latest macroeconomic forecast report, lowering the country’s economic growth expectations for the next three years. The report predicts Italy’s GDP growth in 2026 to be 0.5%, below the previous forecast of 0.6%; the economic growth outlook for 2027 has been revised down from 0.8% to 0.5%, and the forecast for 2028 has been lowered from 0.9% to 0.8%. The Bank of Italy stated that the main reason for the downward revision is the increase in energy prices caused by conflicts in the Middle East, which has added to economic uncertainty. Meanwhile, the slowdown in global trade growth will also negatively impact Italy’s exports. The report pointed out that the current economic outlook for Italy is highly uncertain, and future economic trends largely depend on the situation in the Middle East and changes in energy prices. (CCTV News)