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OUTLOOK

Regional & Local Governments - Italy

2021 outlook negative on lower tax revenues and higher costs from coronavirus shock

“A slow economic recovery will continue to exert fiscal pressure on Italian regional and local governments’ tax revenues next year. Cities’ revenues will also come under pressure due to their links with local economies, though regions will be less affected as they are more subsidised by the government. Overall, we expect tax revenues to reach pre-pandemic levels in late 2022 at the earliest”
Massimo Visconti
Vice President
Moody's Investors Service

INFOGRAPHIC

Regional & Local Governments - Italy

2021 outlook negative on lower tax revenues and higher costs from coronavirus shock

Tax revenues and gross operating balance (GOB) to dive, before gradually recovering over time

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