Italy central bank sees GDP rising 3.2% this year

• Sees 3.2% GDP growth in 2022
• Sees 1.3% in 2023
• Q2 probably rose 0.5% q/q
• Sees average inflation of 7.8% this year

That sounds ambitious but so much of European growth this year depends on power and gas prices. Where they go will depend on what happens with Nord Stream on July 22. With that in mind, the central bank added the caveat of sub-1% growth if Russia cuts off gas flows.