IMF lifts Italy growth forecast, urges reformsStaff writer ▼ | May 24, 2016
The International Monetary Fund (IMF) raised slightly its 2016 and 2017 growth forecasts for Italy.
Europe The IMF urged Rome to push ahead with reforms
In its annual Article IV report published, the IMF said it now expects Italy's gross domestic product to rise 1.1% this year and 1.25% in 2017, up from its previous forecasts of a 1% and 1.1% growth, respectively.
Such modest growth means that Italy's GDP may not return to pre-crisis levels until the mid-2020s, while the gap with a faster-growing eurozone will grow wider, it said.
Moreover, the new forecasts are vulnerable to "financial market volatility, Brexit, the refugee surge, and headwinds from the slowdown in global trade," the IMF said in the report. ■