IMF cuts Italy growth forecasts

(ANSA) - New York, July 16 - The International Monetary Fund on Monday cut its growth forecasts for Italy for this year and next. After last year's 1.5% rise, GDP will rise this year by only 1.2%, three percentage points less than in its April forecasts, the IMF said.
    Next year growth will be 1.0%, 0.1% down on April.
    The revision is linked to "wider spreads on State bonds and tighter financial conditions in the wake of the greater political uncertainty, which are likely to make themselves felt on domestic demand," the IMF said.