Rome, 23 Apr. (LaPresse) – ‘The forecast confirms that the deficit-to-GDP ratio will be brought back below the 3 per cent threshold by the end of this year, and that it will continue on a downward trajectory in the following years. If this trend is confirmed over the course of this year, it will enable Italy to exit the excessive deficit procedure in 2027, in line with the Council’s recommendation.’ This is stated by the Minister for the Economy, Giancarlo Giorgetti, in the foreword to the DFP, the Public Finance Document. He adds: "The contagion is currently limited to financial and perception indicators and has not yet spread to the real economy. However, there are multiple transmission channels and it is currently difficult to predict exactly which of these will be activated and with what intensity, not only because it is unclear how long the current conflict will last, and in particular how long the Strait of Hormuz will remain totally or partially closed, but also because it is not possible to determine the duration and extent of the economic impacts of the supply bottlenecks that have already occurred".