estimate a 10% drop in GDP only in the first half of the year

This was stated by Confindustria in a document released this Tuesday in which it analyzes the impact of the health crises on the local economy

The Italian Confederation of Industrial Entrepreneurs, the Confindustria, estimated today that the country’s GDP will fall “about 10%” during the first half of the year due to the emergence of the coronavirus, while the Giuseppe Conte government is preparing to extend the production and circulation restrictions beyond April 3.

“The loss of GDP in the first half of 2020 will be enormous,” Confindustria said in a document released today in which he analyzes the impact of health crises on the local economy.

According to this association of industrialists, the impact of the pandemic will cause “a drop in the first two quarters of about 10%” of the Italian Gross Domestic Product.

“The Covid-19 sinks the GDP” raised Confindustria, which projected a scenario of “overcoming the acute phase of the emergency by the end of May” which would allow a rebound to achieve 6% growth in output by the end of 2020.

In the face of the Covid-19 emergency, the government ordered in a series of gradual measures from March 11 the paralysis of non-essential industries and the suspension of classes until April 3.

However, as a result of the peak of contagion and deaths recorded, in the last hours, the Health Minister Roberto Speranza hypothesized that the measures could be extended at least until Easter, so the restrictions would remain until 12 December. April.

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Written by Argentina News

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