The Bank’s forecast for growth in 2014 and 2015 is 2,6 per cent and 3,1 per cent for these two years respectively. While this is an improvement, it is still below potential, and likely to have a minimal positive impact on the unemployment rate, which currently stands at 24,1 per cent.
In Italy, the increase in NPLs has mainly stemmed from the weakness of the real economy, which has continued until recently, within a regulatory framework that in the meantime has been radically transformed. Today, in order to limit broad-based risks, responses may be needed that, looking forward, recognize the change in circumstances and exploit the room for manoeuvre allowed under the rules.