IMF raises Italy growth forecasts (3)

(ANSA) - New York, July 24 - The International Monetary Fund (IMF) said Monday that it has hiked up its growth forecasts for Italy. The fund said it expects Italian GDP to increase by 1.3% this year, 0.5 of a percentage point more than it predicted in April.
    It sees GDP growth of 1% in 2018, 0.2 of a point more than the previous forecast. Premier Paolo Gentiloni expressed satisfaction. "A country that improves on the forecasts can have a more significant and important budget law and lowering of its debt," Gentiloni said in Milan. "This also brings confidence and conviction about our country's possibilities". The IMF also revised up its growth forecasts for the eurozone as a whole, by 0.2 of a point to 1.9% this year and by 0.1 to 1.7% in 2018. "We are inside a positive period for the eurozone but we must also take note of an interesting thing," Gentiloni said. "While we are talking of a step up for other countries, there are a few steps more in the Italian case". It said the world economy will grow 1% in 2018, but cut its GDP forecasts for the United States for both this year and next.