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2022 Economic and Financial Document approved, GDP growth at 3.1%

Rome, April 21th 2022 - The 2022 Economic and Financial Document (Documento di Economia e Finanza, DEF) has been adopted by the Council of Ministers on 6 April 2022 and endorsed by the Parliament on 20 April 2022.

The Document, submitted by Prime Minister Mario Draghi and Minister of the Economy and Finance Daniele Franco, is the main instrument for financial and economic planning, as it sets out the public finance and economic strategies for the mid-term.

It takes into account the worsening of the economic framework caused by several factors, in particular the invasion of Ukraine by Russia, rising energy, food and commodity prices, interest rate trends and lower growth in Italy's export markets. The policy objectives of the Document are based on a scenario in which the economy is slowing down but is still registering a significant annual growth.

The policy scenario is characterised by GDP growth that is slightly higher than the baseline, especially in 2022 and 2023, when GDP is expected to grow by 3.1 percent and 2.4 percent, respectively, with positive repercussions on employment growth.

The Italian Government will not hesitate to intervene as decisively and rapidly as possible to support Italian households and businesses.