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Italy is facing a severe crisis due to expensive energy resources


Juin, 15 2022
watermark Economic news

Italy is again facing the biggest damage among the EU's leading countries due to a sharp rise in energy prices. 


According to experts, under the current policy, the share of energy costs in total production costs for the Italian economy will reach 8.8% this year, which is more than twice as high as in France (3.9%) and almost a third higher than in Germany (6.8%).


According to experts, electricity bills in Italy will increase by 5.7–6.8 billion euros monthly, and on an annual basis the growth will be from 68 to 81 billion euros.


The main reason for such a strong impact of the energy crisis on the Italian economy can be called the great dependence of this country on the use of natural gas. Gas in Italy is used not only as a source for electricity generation, but also in production processes.


It also became known that yesterday the Italian state oil company Eni received a notification from Gazprom about a reduction in energy supplies by about 15%.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.