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Bank of Italy: The Local Economy to Grow by 1.4% in 2017

Written by: Editor

Bank-of-Italy-The-Local-Economy-to-Grow-by-1.4-in-2017.jpgThe Bank of Italy estimated that the local economy will grow in 2017 above the projections set out for this year. Businessmen interested in setting up a company in Italy can have positive propects here, as the Italian economy will increase this year by 1.4%, compared to the initial projections of 0.9%. Our team of lawyers in Italy can offer in-depth assistance on the main regulations available for foreign entrepreneurs. 
 

Economic projections for the Italian economy  

 
If at the level of 2017 the economic forecasts show an increase of 1.4%, in the following year, the Bank of Italy estimates that the economy will grow by 1.3%, while in 2019, the increase will be of 1.2%. 
 
Investors interested in opening a company in Italy should know that the economic forecast was revised due to a growth observed in certain economic activities, such as:
 
the foreign demand;
development of the market for raw materials related to the energy sector. 
 
The economic increase observed in the first part of the year was also a consequence of the development of the activities carried out in the following sectors: 
 
service sector;
industrial sector
 
Another reason related to the increase of the Italian economy refers to the employment rate, which also expanded in the first part of 2017. Foreign businessmen who want to hire local workforce may employ different types of contracts, which can be further detailed by our team of Italian lawyers
 

Top economic sectors in Italy  

 
Italy represents one of the most important economies of the European Union. Foreign businessmen interested in investing in Italy should know that the top economic field in this country is the service sector, which accounts for 23.6% of the country’s gross domestic product. In the last years, the level of foreign investments has been increasing, a situation which was also observed for import-export activities
 
As a general rule, the business environment in Italy is mostly comprised of small and medium-sized companies, which can benefit from various incentives offered by the local or European institutions. 
 
Businessmen interested in receiving more details on this subject can address to our law firm in Italy.  
 

Comments

  • Betty 2017-07-24

    Interesting information.

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