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Italy's GDP may fall as much as 13% this year - Bank of Italy

31 May 2020 11:39

ROME. KAZINFORM Italy's GDP may fall by as much as 13% in a worst-case scenario this year, Bank of Italy Governor Ignazio Visco said Friday. That scenario would see a «very slow» recovery from the coronavirus pandemic next year, he said.

Even in a better-case scenario, the central bank chief said, GDP would fall 9% this year, ANSA reports.

In that scenario, the economy would recoup «half of the losses» next year.

«Uncertainty is strong today but on many sides they are saying 'we'll make it together',» he added.

He called for a collective «concrete commitment» and the start of a «constructive dialogue between the government, businesses and finance, institutions, and civil society». This is because, he said «no one must lose hope».