The OECD said Thursday that
it has cut Italy's growth forecast for 2016 to 1%, 0.4 of a
percentage point lower than its prediction in its November
outlook.
The organization maintained its forecast of a 1.4% rise on
Italian gross domestic product in 2017.
It also revised down its projections for the global
economy, saying it will grow by 3% this year and 3.3% in 2017 -
0.3 of a point down on the November outlook.
"Global growth prospects have practically flat-lined,
recent data have disappointed and indicators point to slower
growth in major economies, despite the boost from low oil prices
and low interest rates," said OECD Chief Economist Catherine L.
Mann. "Given the significant downside risks posed by financial
sector volatility and emerging market debt, a stronger
collective policy approach is urgently needed, focusing on a
greater use of fiscal and pro-growth structural policies, to
strengthen growth and reduce financial risks.
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