IMF upgrades Italy growth forecast

Washington, Oct 7 (IANS/AKI) The International Monetary Fund raised its growth forecast for the Italian economy to 0.8 percent this year and 1.3 percent in 2016, from 0.7 percent and 1.2 percent in its last forecast in July.

The IMF on Tuesday said its forecasts held up in the eurozone with “stronger then expected growth in Italy and especially in Ireland and Spain offsetting weaker-than-expected growth in Germany”.

It predicted that the world economy would grow this year at its slowest pace since the global financial crisis.

A deep slowdown in China and other emerging economies would offset the strengthening recovery in wealthy countries, the IMF said.

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