Italy's Gualtieri sees stronger-than-forecast economic rebound

[ROME] Italy's economy will rebound more powerfully than expected in the third quarter, Finance Minister Roberto Gualtieri said.

The country's output will expand more than the 9.5 per cent forecast in the government's latest financial plan, Mr Gualtieri said in an interview at Ambrosetti Forum in Cernobbio, Italy, on Sunday. Even so, gross domestic product will only return to its pre-coronavirus level in 2022, he said.

Mr Gualtieri also announced that Italy will set a "significant" long-term target for reducing its debt in coming weeks. This plan will be sustainable thanks both to the government's fiscal measures and to stronger growth in coming years thanks to the investments financed by the European Union recovery funds, the minister said.

BLOOMBERG