"We have a special relationship, tested by time, with Italy", he said.
Foreign investment from Italy has significantly dropped off since the imposition of sanctions on Russian Federation following Moscow's 2014 annexation of Crimea and tensions in Ukraine.
After meeting the pope, Putin will hold talks with Prime Minister Giuseppe Conte and President Sergio Mattarella.
The July 4 visit will include talks with Italian President Sergio Mattarella and Prime Minister Giuseppe Conte as the Russian leader seeks to bolster economic ties with North Atlantic Treaty Organisation and European Union member Italy.
According to the interview posted on the Kremlin website, Putin said the United States had a military budget of more than 700 billion US dollars, compared with Russia's roughly 48 billion dollars.
He also said the fund was working with Italy's biggest utility Enel to develop more wind and alternative energy plants in the country. They have spoken for a quicker abolition of anti-Russia sanctions introduced by the US and EU.
The meeting will come a day ahead of a scheduled two-day visit to the Vatican by Ukraine's Catholic leaders to discuss the crisis in their country.
The pope and Putin will discuss "preserving Christian holy sites in Syria", the Kremlin said.
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Vladimir Putin has signed a bill suspending Russia's participation in a pivotal nuclear arms pact with the United States.
The U.S. administration has recently begun to reflect on the possibility of restarting dialogue with Russian Federation on a broad strategic agenda, and reaching concrete agreements in the field of arms control would help improve global stability, he said.
The INF treaty, signed by U.S. President Ronald Reagan and Soviet leader Mikhail Gorbachev, banned production, testing and deployment of land-based cruise and ballistic missiles with a range of 500 to 5,500 kilometers (310 to 3,410 miles).
'Russia has the political willingness to do it.
"Recently, it seems that Washington has started to reflect about stepping up dialog with Russian Federation over a wide strategic agenda", Putin added.
Salvini and fellow Deputy Prime Minister Luigi Di Maio will attend a dinner for Putin in the evening, after which the russian president will meet his old friend and former premier Silvio Berlusconi, known for his sex scandals and "bunga bunga" parties.
"Silvio is a politician of global stature, a true leader who strongly advocates the interests of his country in the worldwide arena", Putin told Corriere della Sera.
'We are bound by a friendship stretching back many years, ' he added.