Italy's economy hit hard by Russia-Ukraine conflict

Rome, April 3 Italy is among the countries hardest hit by the ongoing conflict between Russia and Ukraine, with rising energy prices weighing heavily on the country's post-pandemic economic recovery.

The ratings company Standard & Poor's revised down Italy's annual growth rate from 4.7 to 3.1 per cent this week in the light of the conflict and "the resulting surge in commodity prices", Xinhua news agency reported.