Confindustria lowers 2015 GDP estimate to 0.8%

Halving tax evasion could add 3.5% to GDP, say employers

(ANSA) - Rome, December 16 - Industrial employers group Confindustria on Wednesday lowered its Italian GDP growth estimate for 2015 to 0.8% from its previous 1% projection in September. The group also lowered its 2016 estimate to 1.4% from 1.5% and estimated growth of 1.3% in 2017. Confindustria added that if tax evasion in Italy were cut in half and the proceeds returned to taxpayers through lowered taxes and recovered resources, the country's GDP would see an additional 3.1% in growth and more than 335,000 additional jobs.
    It said tax evasion in Italy amounted to 122.2 billion euros in 2015, 7.5% of the country's GDP.


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