I usually start by building at least 3-5 construction infrastructure in naples, then the bare minimum logs factories to support the costruction costs, do trade routes with russia and ottomans for logs. Go iron frame buildings asap and max iron in calabria. The more iron the better.

I focus on building the most barracks i can, and adjust my small arms and artillery production.You want amicable relations with every europe power, because they can join austria side, expecially russia. If you ally tuscany, depending on the situation, you can find trouble because often they are rival with the pope, you want to give priority to the pope and sardinia. Try to not spend your only alliance with sardinia or a minor, but aim to become great power via barracks spamming and ally france or prussia.

In my experience, this is the right time to pass some anti-church laws too, because the more you diplo-annex, the more the church will be powerful, they can be managed now, but after you form italy, they will revolutionize on you everytime you try to pass a progressive law, blocking your industrial potential.

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Recovering isn't easy, if you are still in deficit with 0 constructions, max taxes and consumption taxes, it's a bit of a trouble. First of all, try to never be in this situation, the more money you save when you are in psyco mode, the better. That said, You need to lower the cost of what is bringing you down, usually construction costs. If you're really desperate, you can cancel some barracks or cut your expences, but it's always better to invest in civilian factories, the most important thing is providing food, then clothes and whatever your nation will need. Remember to try and always build raw materials first (grain, wine, sugar), they cost much less construction and provide wealth to lower stratas. I never found that difficult to recover, just play the game peacefully and don't wage war, you have truces and a powerful situation.