Retailers association Confcommercio
said Friday that it expects Italy's GDP to increase by 0.3 this
year and 0.5% in 2020.
The association had predicted growth of 1% for this year in
October.
It also revised down its forecast for consumer spending,
saying it will probably rise by 0.3% this year, down from the
previous forecast of 0.8%.
Confcommercio also urged the government to take action to
avert that hikes in value-added tax that are set to kick in
unless alternative budget coverage can be found.
It said VAT would rise by around 382 euros per capita a year
if the hikes are not stopped.
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