Italy lowers GDP growth targets due to energy costs

Italy is set to lower its economic growth forecasts as the impact of high energy prices continues to strain the national economy. Economy Minister Giancarlo Giorgetti confirmed that the government is preparing to adjust its GDP targets to reflect these ongoing challenges. According to sources, the growth estimate for the current year is expected to be revised to 0.5% or 0.6%, down from the previous 0.7% target. Projections for the following year are also likely to be reduced to a range of 0.6% to 0.7%, compared to the earlier 0.8% outlook.