IMF revises Italy growth upwards, 1.5% (5)

1.1% in 2019

(ANSA) - New York, April 17 - The International Monetary Fund on Tuesday revised upwards its 2018 growth forecast for Italy, from 1.4% to 1.5%, following 1.5% last year. Growth for 2019 remains confirmed at 1.1%.
    Despite the hike Italy will remain last in the eurozone for growth this year, the IMF said, with Germany up 2.5%, France 2.1% and Spain 2.8%. Greece's GDP will rise 2.0%, the IMF said. Political uncertainty increases the risks of implementing reforms in Brazil, Colombia, Italy and Mexico, the IMF said.
    Italy and Spain must cut their high public debt, the Fund said.
    Italy's public debt will fall to 129.7% of GDP this year from 131.5% last year, the fund said. It will drop to 127.5% in 2019 and 116.6% in 2023, the fund said.
    Italy's budget deficit will fall to 1.6% of GDP in 2018, from 1.9% in 2017, the IMF said.
    It will fall to 0.9% in 2019, the fund said.
    Italian unemployment will fall this year but remain above 10%, the IMF said.
    Outgoing Premier Paolo Gentiloni said Tuesday that the credit for Italy's economic recovery went to its households and businesses. "When things recover, when you start to get going again, albeit with differences from sector to sector, and you see the economy start to pull ahead, it is always primarily thanks to families, companies and the community," Gentiloni said at the inauguration of the Milan International Furniture Fair.
    "Governments can help these dynamics, but they are not created from high, from this measure or that other measure".
    The following tables shows the IMF growth forecasts for the eurozone.
    COUNTRY 2017 2018 2019 ---------------------------------------------- EUROZONE 2.3% 2.4% 2.0% GERMANY 2.5% 2.5% 2.0% FRANCE 1.8% 2.1% 2.0% ITALY 1.5% 1.5% 1.1% SPAIN 3.1% 2.8% 2.2% NETHERLANDS 3.1% 3.2% 2.4% BELGIUM 1.7% 1.9% 1.7% AUSTRIA 2.9% 2.6% 1.9% GREECE 1.4% 2.0% 1.8% PORTUGAL 2.7% 2.4% 1.8% IRELAND 7.8% 4.5% 4.0% FINLAND 3.0% 2.6% 2.0% SLOVAKIA 3.4% 4.0% 4.2% LITHUANIA 3.8% 3.2% 3.0% SLOVENIA 5.0% 4.0% 3.2% LUSSEMBOURG 3.5% 4.3% 3.7% LATVIA 4.5% 4.0% 3.5% ESTONIA 4.9% 3.9% 3.2% CYPRUS 3.9% 3.6% 3.0% MALTA 6.6% 5.7% 4.6%

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