The Bank of Italy told a parliamentary hearing on the updated economic and financial plan, the NADEF, on Monday that there were high risks and high uncertainty attached to the Israel war.
“The risks to economic activity are high and tilted to the downside,” said the head of the BoI’s economics and statistics unit, Sergio Nicoletti Altimari.
Geopolitical tensions – linked both to the conflict in Ukraine and the ferocious attacks in Israel in recent days – are generating considerable uncertainty about growth prospects.
“The latter could also be affected by the weakening Chinese economy and, in the euro area, by a particularly intense transmission of monetary tightening, with a further tightening of credit supply conditions.”
Source: Ansa News Agency