Italy economy: IMF says country has 'two lost decades' of growth

Italy's economy will not return to the levels seen before the 2008 financial crisis until the mid-2020s, the IMF has said, implying "two lost decades". By the mid-2020s, it says the economies of other eurozone members will be 20-25% larger than levels seen in 2008. The Fund's comments came as it cut its growth forecasts for the eurozone's third largest economy. It now expects Italy's economy to grow by less than 1% this year, compared with an earlier estimate of 1.1%. The IMF also cut its growth forecast for 2017 to about 1% from 1.25%.
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