News Summary

• “It will be crucial to closely monitor spending trends, bearing in mind that higher-than-expected inflation would make it even more difficult to adhere to the planned consolidation path,” Bank of Italy official Andrea Brandolini said.
• Prime Minister Giorgia Meloni’s government published new economic forecasts last week which saw the country's growth outlook revised down to 0.6%, from a previous reading of 0.7%.
• The failure to meet that goal means Italy won’t be able to exit the bloc's Excessive Deficit Procedure regime until 2027 at the earliest.