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Reuters
Reuters
Business

Meloni: Italy could be in recession in 2023, faces tough times

FILE PHOTO: A woman shops at Campo de' Fiori market in Rome, Italy, June 15, 2022. REUTERS/Guglielmo Mangiapane

The new Italian government faces some of the toughest challenges since World War Two and the economy could sink into recession in 2023, Prime Minister Giorgia Meloni said on Tuesday in her maiden speech to parliament.

Meloni said her government would have to spend heavily on curbing the impact of the energy price crisis, which meant it would have to delay some expected measures from the 2023 budget, which must be presented next month.

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