Fitch promotes Italy with a “+” for the satisfaction of Giancarlo Giorgetti and Giorgia Meloni. The rating agency raised the judgment on the tricolor sovereign debt from BBB to the BBB+, with a stable outlook. An important step for the government that exults for the trust granted to the budget trajectory and awaits the other assessments arriving from S&P, Mornigstar DBRS, Scope and Moody’s.
The result re -evaluated in the eyes of the markets The Tenuta economy of Italy, which has so far recorded the worst rating among the countries of the euro area, saved Greece.
Fitch’s judgment
Despite a slightly increased debt and slower growth than the countries of the BBB category, the agency provides in its report a reduction in risks in terms of financing and sustainability.
To affect the promotion of Fitch is above all the reduction of the deficit this year to 3.1%, which is conducting our country towards the exit from the procedure for excessive deficits provided for the achievement of the 3%finish.
To this is added a growth of GDP which, albeit in the order of the “zero point”, would be confirmed in 2025 at an altitude of +0.6%, with an estimate at +0.8% in 2026.
According to the report of the rating, moreover, the Italian economy will benefit from the pnrr towing, on which the government has managed to raise the rhythm of the actual expenditure, which arrived at about 3 billion per month, in view of the final sprint in the last year of the plan.
For Fitch, political stability, fiscal prudence and many years of planning can favor Italy’s objectives on public debt.
This is clearly contrasting with the recent past, when Italy has suffered from inversions of course and political instability, which led to the failure to achieve the objectives. The debt of Italy has fallen by over 20 percentage points in the period 2020-2024, returning to the pre-plays levels faster than we expected (and in contrast to many other Eurozone countries)
On April 5, the agency had given a sign of trust confirming the rating to BBB, but with a positive outlook. The future forecast on the economic estate of our country is now stable today.
Giorgetti and Meloni’s reaction
The judgment on the rating is a source of satisfaction for the Minister of Economy Giancarlo Giorgetti, who commented on:
So much study, a lot of work. Serious and reserved. We reported Italy on the right path
A result that, in addition to the downgrade of Fitch on the Ringing of France from AA- A+, Giorgia Meloni did not fail to claim the accounts in order and the political path of the government.
It is a clear sign of trust from international markets: political stability, credible economic policies and support for those who create work and wealth are making their fruits. We are aware of the challenges that await us – growth, debt, sustainability – but today we can look forward to pride: our commitment is recognized, and this gives us further strength to do more and more, for Italy and its families
