Italy: GDP to grow by 0.7% in 2024

Italy’s gross domestic product (GDP) is expected to grow by 0.7% in 2024, below the government’s estimate of 1%, according to the budget structural plan, the Italian statistics agency Istat reported.

The Italian news agency ANSAmed quoted the statistics agency as saying that Italy’s GDP at market prices amounted to 2,192,182 million euros in 2024.

The agency also indicated that the budget deficit amounted to 3.4% of GDP, which is lower than the deficit recorded in 2023, which amounted to 7.2%, and better than the forecast of a deficit of 3.8% according to the government’s budget structural plan.