The war in Ukraine and inflation pose a threat to both Italian GDP and prices. And the ‘sanctions only increase the problem because they also block exports from countries such as Russia’. This was explained by Moreno Zani, president of Tendercapital, one of the most dynamic independent international players in the asset management sector, at the Salone del Risparmio 2022.
Italy has two major drivers, domestic consumption and exports. Inflation could become a big problem both at the level of domestic consumption, and therefore of GDP development, and for prices, especially of materials related to the world
energy that we buy abroad. Two countries are involved in the war which have relatively low GDPs but which are fundamental from the point of view of energy and commodities in general, think of wheat. All this will reverberate on prices. If we don’t find a solution soon we could have a stable in action over time if not an increase in wages’.