Impact of the war in Ukraine, Italy’s GDP: EU Commission ready to cut 2022 estimates. The expected scissoring

The European Commission is preparing to announce a strong downgrade on the Italian GDP outlook, as part of a downward revision of the growth estimates for the Eurozone for 2022.

According to Ansa, the estimates for Italy should be cut from the + 4% previously expected to about + 1.5%, due to the economic consequences of the conflict between Ukraine and Russia.

The outlook announcement is expected today.