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IMF confirms Italy recovery, GDP to grow 1.5% in 2017 (2)

Growth of 1.1% in 2018, 0.9% in 2019

IMF confirms Italy recovery, GDP to grow 1.5% in 2017 (2)

New York, November 13 - The International Monetary Fund (IMF) on Monday confirmed Italy's economic recovery with a projected 1.5% GDP increase in 2017, in its Regional Economic Outlook for Europe. It said Italian GDP will grow by 1.1% in 2018 and 0.9% in 2019. It said unemployment will fall to 11.4% in 2017. It estimated debt this year at 133%, to drop to 131.4% in 2018 and 128.8% in 2019. It projected the deficit at 2.2% in 2017, dropping to 1.3% in 2018 and 0.3% in 2019. Italy was among several European countries that the IMF on Monday told to take advantage of the economic recovery to cut its public debt in its Regional Economic Outlook for Europe. It gave the same advice to Belgium, France, Portugal, Spain and Britain. The IMF repeated the forecast it gave in its World Economic Outlook in October that Italy's debt-to-GDP ratio for 2017 will be 133%. The IMF said that "judicial reform and control of corruption are priorities" for several European countries and called on Italy, Bulgaria, Greece, Romania and Ukraine to "reinforce anti-corrution efforts".

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