* * *  The economic outlook This conference comes at a difficult and uncertain juncture for the global economy, the euro area and Italy. After solid growth in 2017 and early 2018, world GDP decelerated significantly in the second half of last year. Although there are signs that the downward momentum might have stopped, in many countries economic activity remains weak.
According to the IMF’s latest forecasts, in 2019 the global economy will expand at the lowest rate since 2009, when it recorded a recession. Trade tensions, mostly fuelled by the new protectionist strategy pursued by the United States, and their effects on confidence, especially of private enterprises, are contributing significantly to this poor performance of the world economy.