Italy’s GDP targets for 2024-2025 difficult to reach, central bank says

ROME (Reuters) – The Italian government’s growth targets for 2024 and 2025 now look hard to achieve, the central bank said on Tuesday.

The Treasury set a growth target of 1% this year and 1.2% in 2025 in its multi-year budget plan unveiled in September.

Italian gross domestic product stagnated in the third quarter compared with the previous three months, preliminary data showed last week, missing forecasts and casting a shadow over growth prospects in the euro zone’s third largest economy.

“According to recent data, which is still insufficient to paint a complete and reliable picture, economic activity is seen struggling to regain momentum at the end of this year,” the Bank of Italy said during a testimony in parliament over Rome’s budget bill.