A few weeks ago, we published our first Report on sustainable investments and climate-related risks, which documents the Bank of Italy’s methodologies and choices and the results achieved in the management of the portfolios it holds for purposes other than monetary policy.
For example, under the alternative fiscal scenario developed by the Congressional Budget Office, which assumes most current policies are extended, the deficit is projected to be about 6-1/2 percent of GDP in 2020 and almost 13 percent of GDP in 2030.