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The Bank of Italy upgraded its economic growth forecast for 2015 on Friday. Italy's economy is expected to expand 0.7% this year, up from the previous forecast of a 0.5% growth.
The upward revision was driven by low oil prices, a weaker euro and "a more positive evolution of the external context, in large part attributable to the effects of monetary policy".
Growth forecast for 2016 remained unchanged at 1.5%.
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