MNI: Italy Business Lobby Group Ups 2018/19 GDP Forecasts

By Silvia Marchetti

     ROME (MNI) - Italy's leading business group has lifted its national GDP

forecasts for 2018 and 2019 to 1.5% and 1.2% respectively.

     In its regular economic update of the country's outlook, Confindustria

confirmed its 1.5% growth prediction for this year, in line with those of Rome's

government but rosier than the Bank of Italy ones. 

     The previous forecasts, issued in June, showed next year's growth set at

1.3%.

     "Italy has succeeded in shortening, but not eliminating, the growth gap

with other eurozone member states," said Confindustria, warning that the return

to pre-crisis growth levels was still faraway. 

     The lobby warned on high risks of ungovernability following next year's

general vote, scheduled for the spring. 

     "The upcoming vote stands as a very relevant test that places the country

at a crossroads in proving whether it is capable to pursuing the long path of

reforms or do nothing at all, which translated into taking steps backward," said

Confindustria. 

     "Political instability and ideological measures (launched, promised or

made) for electoral goals have the potential of reducing growth," the lobby

group warned. 

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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