Deficit: Italy has managed to catch up with France, but "the game is not over yet," explains Jean-Paul Chapel
In the space of five years, the Italians have managed to drastically reduce their debt, drawing closer to France on several levels. But all is not yet decided, explains Jean-Paul Chapel in the "8 PM" news program on Tuesday, June 3.
Italy has managed to recover from a severe debt crisis. While Italians are not yet richer than the French, "in any case, they have caught up with us," notes Jean-Paul Chapel in his column on "20 Heures" on Tuesday, June 3. "If we compare the wealth produced per capita (GDP) and the standard of living, Italians were on average 10% less rich than the French in 2020; in 2025, they will be on par," the journalist explains.
Behind this economic comeback, "more growth on the other side of the Alps, driven by exports and the post-Covid European recovery plan," continues Jean-Paul Chapel. On the employment front, the Italians are also holding up well, with a 5.9% unemployment rate, while France is at 7.1% in April 2025. But are our neighbors any better than us at fighting the deficit and debt? While in France, the deficit reached 5.8% of GDP in 2024, "Italy has cut spending," bringing its deficit down to 3.4% of GDP. But the game is not yet "over," notes Jean-Paul Chapel.
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