The International Monetary Fund expects a strong recovery for Italy in 2021

The International Monetary Fund said in a statement issued at the end of its annual visit to Italy that “a strong recovery is expected in 2021 supported by continued vaccinations despite the persistence of significant uncertainty” and also stressed that “continued policy support will be necessary until the recovery takes hold.” The International Monetary Fund expects Italy's GDP to rise by 4.3% in 2021 and by 4% in 2022, after adjusting to raise April estimates of 4.2% in 2021 and 3.6% in 2022. The National Statistics Office (ISTAT) said that the Italian economy grew by 0.1% in the first quarter of this year and the Italian economy is expected to grow by 4.5% this year, after the economy contracted by 8.9% last year.