The Italian economy is expected to grow more than previously forecast this year and the next as a result of the European Central Bank’s bond buying program, Bank of Italy Governor Ignazio Visco said on Saturday.
The Italian central bank now expects the euro area’s third-largest economy – and its most sluggish – to expand by more than 0.5 percent this year and more than 1.5 percent the next, Visco said in a speech at a financial conference.
Only last month, the Bank of Italy had cut its 2015 growth forecast to 0.4 percent, warning that economic recovery would be slow and fragile. Its 2016 growth estimate was previously 1.2 percent.
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