Italy’s Outlook Raised to Positive by S&P on Reforms, Outlook

S&P projects that Italy’s general government deficit will narrow to 8.8% of GDP in 2021 versus the official 9.4% target, and a deficit of 9.6% in 2020. For 2021, real GDP growth is set to recover by 6%, followed by 4.4% growth in 2022, S&P said

di Alessandra Migliaccio

Italy’s credit rating outlook was raised to positive from stable by S&P Global Ratings, which said the progress in implementing reforms will boost economic growth, benefiting fiscal consolidation.
S&P affirmed the BBB rating on Italy, which is two notches above junk. The country’s prospects are looking brighter as increasing rates of vaccination have allowed it to avoid renewed lockdowns. Recovery aid from the European Union is supporting the economic an economic rebound and Ecb action in financial markets is keeping bond yields in check.

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