The recovery of Italy’s sovereign note by the Fitch rating agency is “a clear sign of the confidence of international markets,” the Italian Prime Minister Giorgia Meloni said on Saturday, believing that his government’s policy “was born fruit.”
“Italy obtains a Fitch promotion: the confirmation that the path taken by our government is correct,” according to a statement by Giorgia Meloni.
“Political stability, credible economic policies and support for those who create jobs and wealth are paying fruit,” he added, praising “order accounts” and “responsible budgetary options.”
“We put Italy on the right way”
“We put Italy on the right way,” said Minister of Economy and Finance Giancarlo Giorgetti.
The Fitch rating agency pointed out the sovereign note of BBB Italia to BBB+ “to reflect greater confidence in the country’s budget trajectory, a week after having dropped to France.
The ultra conservative government of Giorgia Meloni has carried out a budget rigor policy in the last two years. The country, for a long time considered too much expense, divided its public deficit by two in just one year, appearing in 3.4% of GDP in 2024.
However, Italy remains much more in debt than France, with 135% of the gross domestic product (GDP) against 114% for its neighbor. And its medium -term perspectives are gloomy, with low productivity and a population that ages.
Source: BFM TV
