Italian GDP is expected to grow
by 0.9% in 2016 and by 0.8% in 2017, employers' group
Confindustria said on Wednesday, revising its earlier lower
estimates of 0.7% and 0.5%, respectively.
It estimates GDP will grow by 1.0% in 2018.
The revised estimates are linked to improved economic trends
in 2016 and the government's budget bill, which provides for
increased flexibility in the debt-to-GDP ratio as well as fiscal
stimulus on investments.
Confindustria revised its unemployment rate estimates
downward, to 11.4% in 2016 from a previous estimate of 11.5%,
and 11% in 2017, down from 11.2%.
It estimates the unemployment rate in 2018 will be 10.5%.
Total employment is expected to grow by 1.1% in 2016 and by
0.6% in 2017, it said.
Meanwhile, the number of those living in absolute poverty has
risen 157% since 2007, to 4.6 million people in 2016,
Confindustria said, speaking of a context of "a reduction in
well-being and a social and political unraveling without
precedent in the post-WWII period".
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