Italy's economy should grow by
as much as 2.1% this year, rising to 2.5% in 2016, thanks to a
series of events and measures including the new quantitative
easing program from the European Central Bank (ECB), researchers
with employers group Confindustria said Wednesday.
Factors including a falling exchange rate and lower energy
prices will also be good for growth, the research centre of
Confindustria said.
Just one day earlier, the Bank of Italy also predicted that
the new QE program unveiled last week by the ECB should provide
a lift to growth.
The ECB program will see massive bond purchase starting in
March that will ultimately be worth more than one trillion
euros.
The Confindustria researchers said that "the more lively
trade" environment globally should also encourage growth.
The Italian economy has shown no real signs of expansion
since 2008 and a week before QE was introduced the Bank of Italy
had slashed its growth forecast for 2015, predicting an
increase in gross domestic product (GDP) of a mere 0.4% this
year, compared to the 1.3% it forecast in July.
The central bank added at that time that the
recession-battered Italian economy should grow 1.2% next year
but warned that "considerable uncertainty remains".
It also estimated that Italy's GDP fell by 0.4% in 2014.
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