The International Monetary Fund said on Tuesday, that the Italian economy could grow by around 4.25 percent this year, raising its previous forecast of 3 percent made in January.

The IMF said its projection, made in a report following its annual so-called “Clause IV” visit to Italy, was dependent on COVID-19 vaccinations being well advanced by late summer and continued economic support measures.

It warned that the latest forecast was surrounded by “considerable uncertainty”.