The CSC research centre of industrial employers' confederation Confindustria said Wednesday that it has raised its growth forecast for 2018 to 1.5%, up from the previous prediction of 1.3%. It confirmed its estimate that Italy's GDP will increase by 1.5% this year and released its first growth forecast for 2019, seeing GDP rising 1.2%. "Italy has managed to narrow, but not close, the gaps on GDP increases with with the rest of the eurozone," the CSC said.
The CSC said that the general election Italy will have early in 2018 is a crossroads and warned against an outcome that could lead to backtracking on the reforms passed in recent years. "The next political elections are a very important test and put the country before a crossroads between continuing on the long path of reforms or not doing anything (which in relative terms means going back) or even moving backwards," the CSC said.
"Political instability and demagogical measures to get (voter) support... lower growth potential (in the medium and long term)".
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