Italy's economy is expected to experience a lower growth rate than previously predicted.

A Finance Ministry official has confirmed that the Istat statistics agency's forecast for a 0.5% expansion in 2024 aligns with expectations, which is a significant adjustment from the government's own projection of 1%.

Istat has revised its growth target for next year to 0.8%, down from the previous estimate of 1.1% made six months ago. These changes indicate a slowdown in economic activity, raising concerns about Italy's financial outlook in the face of challenging conditions.