An Italian economic miracle? The country expects economic growth of almost 15% over the summer

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He also said that the government plans to reduce personal income tax next year.

According to ISTAT, Italian GDP fell by 12.4 percent in the second quarter due to the spread of coronavirus. According to Gualtieri, the economic downturn was slightly more modest than the government expected.

“The recovery in the third quarter is likely to be just under 15 percent, but we believe it will not be far from that number,” the minister said. He noted, however, that the end result will depend on the development of the coronavirus pandemic and the world economy.

The European Commission predicted last month that the Italian economy would shrink by 11.2 percent throughout the year. He expects Italian GDP to grow by 6.1 percent next year.

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