Prices for energy, on which we depend so heavily, are low again. The highly accommodative stance of monetary policy in the euro area has provided our firms with a favourable exchange rate, on both foreign and domestic markets, and unprecedentedly low interest rates.
There is an increasingly strong drive to reform the country’s economic and social fabric, which has elicited international approval even though it has met with internal division and resistance. In the latest scenarios prepared by several forecasters, including the Bank of Italy, output will grow modestly this year, and more the next.