Economy

Fitch upgrades Italy’s rating to “BBB”, outlook stable

Fitch upgrades Italy’s rating from BBB- to BBB-. The outlook is stable. The agency announces this in a note that Italy’s GDP will grow this year by 6.2% and in 202 by 4.3%. Italy’s “strong economic recovery” is affecting public finances. This was stated by Fitch in a note, as it forecast a deficit for Italy of 8.9% in 2021, a marked improvement from the previous estimate of 11.4%. Debt is likely to fall below 154% of GDP by the end of 2021 from its peak of 155.6% at the end of 2020.

Dear, rating agencies confirm the strictness of government choices – “Fitch’s decision to upgrade Italy’s rating to BBB caps a series of positive ratings issued by five other rating agencies, which in recent weeks have improved its outlook for the country.” This was stated by the Treasury, commenting on Fitch’s decision to upgrade Italy’s rating to BBB with a stable outlook. The recent decisions of the rating agencies “confirm the strength of the economic policy pursued by the government and the need to continue firmly on the path of reforms and investments, in accordance with the plan agreed with Europe.”

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