Giorgia Meloni was exulting just last week that IMF forecasts showed Italy growing faster than Germany and France this year — proof, she said, of the “effectiveness” of her rightwing coalition government’s economic policies.
But Italy’s prime minister received a rude shock on Monday, after data showed the country’s post-coronavirus pandemic economic rebound lost far more steam than was expected.
Italy’s economy shrank by 0.3 per cent in the second quarter of 2023, far worse than the zero growth forecast by most analysts. The eurozone as a whole, meanwhile, registered a 0.3 per cent expansion.
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