South slowing down, risk of new overtaking by North

This year the South is still ahead but losing ground

By: ansa.it

Nov 27 2024
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South slowing down, risk of ne

A rise in the economy of the South of Italy is slowing down and there is a risk of it being overtaken by the North again, southern development agency Svimez said Wednesday.
    The South is growing more than Central-Northern Italy for the second consecutive year, however, said the agency.
    GDP in the South is expected to increase by 0.9% in 2024 against 0.7% in the rest of the country, according to the Svimez Report which describes the role of the EU-funded post-COVID National Recovery and Resilience Plan (NRRP) as "decisive".
    The plan is worth 1.8 points of GDP in 2024-2026. However, the growth gap favorable to the South is decreasing compared to 2023 and from next year, the Association highlights the risks of a return to "normality" of more stunted growth compared to the rest of the country in 2025 and 2026, due to the withdrawal from policies to stimulate investment and support family incomes.