Economy

Stocksak predicts that Italy will experience a recession in 2023.


© Stocksak. FILEPHOTO: A woman shops in Rome’s Campo De’ Fiori market, Italy, June 15, 2022. REUTERS/Guglielmo Mangiapane

ROME (Stocksak). – The new Italian government faces some the most difficult challenges since World War Two. In 2023, the economy will be in recession, Prime Minister Giorgia Maloni stated on Tuesday in her maiden speech before parliament.

Meloni stated that her government would need to spend heavily to curb the effects of the energy price crises. This would mean that it would have delayed some measures from the 2023 budget.

She said that her right-wing nationalist coalition would ensure public ownership for major infrastructure, such motorways and airports. She also promised to cut red tape and implement gradual tax cuts.

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