The International Monetary Fund (IMF) on Tuesday revised upwards its GDP estimates for Italy, which is experiencing "stronger than expected growth". It forecast GDP growth of 0.8% in 2015 (up 0.1% over previous estimates) and of 1.3% in 2016 (up 0.1% over previous estimates) after contracting by 0.4% in 2014. As well, the IMF said Italy's unemployment rate will stay at 12.2% this year, down from 12.7% in 2014. Joblessness will drop to 11.9% in 2016, it said. The IMF added eurozone youth unemployment remains high and governments should forge ahead with structural reforms to create jobs.
As far as the eurozone, the IMF sees that GDP expanding by 1.5% this year and by 1.6% in 2016 (down 0.1% from previous estimates).
The United States are set to experience 2.6% growth next year (up 0.1% from previous estimates) and 2.8% growth in 2016 (down 0.2% from previous estimates).
The global economy will likely expand by 3.1% this year and 3.6% in 2016, according to IMF analysts.
Both figures down by 0.2% over July forecasts.
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