The Italian GDP will grow by 0,7% this year and by 0,6% in 2012. These are the latest estimates by the Italian Treasury, which has been forced to revise downwards its previous estimates of the country's growth (respectively 1,1 and 1,3%), bringing them in line with the figures calculated by the main international institutes and by the EU.
The new figures are contained in the update note in the Def (Economics and Finance Document) approved this morning by the Council of Ministers. In 2013 the GDP will grow by 0,9% and in 2014 by 1,2%. However, the objective of a balanced budget in 2013 remains confirmed.
As for debt, it will amount to 120,6% of GDP this year, to then drop to 119.% in 2012 and 116,4% in 2013 and 112,6% in 2014.
The Def then reports that the tax burden is destined to rise in the coming years: after 42,7% in 2011, it will rise to 43,8% in 2012 and 43,9% in 2013. A slight drop in 2014 at 43,7%.
At the same time, inflation is also destined to accelerate, which is expected to reach 2,6% this year, 1,9% in 2012 and 1,8% in 2013.
Better news comes instead on the primary surplus front, for which a progressive increase is expected starting from the 0,9% of GDP forecast for this year, up to 5,4% in 2014.
