Home Business Tuscany: GDP 2022 slows down, not enough to recover pre-Covid levels

Tuscany: GDP 2022 slows down, not enough to recover pre-Covid levels

by admin
Tuscany: GDP 2022 slows down, not enough to recover pre-Covid levels

After the good recovery marked in 2021 (+6.5%), the Tuscan economy is now slowing down as the months go by, with the prospect of closing 2022 with GDP growth close to 3%, in line with Italy: a result that would still not be enough to recover pre-Covid levels.

Premature talk of recession

«It’s a moment of great uncertainty – says the director of Bankitalia Florence, Mario Venturi, who presented the Tuscan economic update on 16 November with the head of the research office Silvia Del Prete – even if for now it would be premature to speak of a recession. To return to lasting growth, it is necessary to encourage public and private investments and seize the opportunities of the National Recovery and Resilience Plan”.

Accelerate on ecology and digital

In particular, Tuscany needs to accelerate the ecological and digital transition, where it has accumulated delays. «Fortunately, the core industrial sectors are doing well – explained Del Prete – in particular fashion, jewellery, wine, paper and yachting».

The future is weighed down by the energy and geopolitical crisis and rising inflation which, according to Bank of Italy, risks leading to greater caution in the granting of credit by banks. In any case, corporate investments are already slowing down «especially those of those who have suffered the most from the increase in the prices of raw materials», concluded Venturi.

See also  Bank of England unexpectedly stayed on hold, traders sharply lowered interest rate hike expectations_Martins

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy