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Italy set for 'fragile recovery' in 2015

The Local Italy
The Local Italy - [email protected]
Italy set for 'fragile recovery' in 2015
Average growth predictions across the eurozone in 2015 were cut to 1.5 percent from 2.0 percent. Photo: Patrick Hertzog/AFP

Italy’s economy will grow by 0.6 percent in 2015, spurring a “fragile economic recovery”, according to a European Commission report published on Tuesday.

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According to the European Economic Forecast report for autumn 2014, growth will be driven by “accelerating external demand”.

Inflation, meanwhile, “is set to remain low but slightly positive in 2015, fuelled by higher import prices”.

The Italian government is also expected to reduce its deficit to 2.7 percent of GDP in 2015 from three percent this year, “with a broadly unchanged structural position over the two years."

Unemployment, however, will remain high at 12.6 percent, dropping slightly to 12.5 percent in 2016.

The EC forecast comes as day after Italy’s national statistics office, Istat, said the economy will shrink by 0.3 percent this year before growing by 0.5 percent in 2015.

Average growth predictions across the eurozone for next year were cut to 1.5 percent from 2.0 percent. 

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