Illegal economic activities such as drugs and prostitution are apparently responsible for having lifted Italy out of economic recession. EU data calculations have demonstrated that the black market has significantly boosted GDP figures.
Italy is technically no longer in economic recession because of the addition of figures from illegal activities.
While Italy’s office for national statistics (ISTAT) confirmed that “in the second quarter of 2014 the seasonally and calendar adjusted, chained volume measure of Gross Domestic Product (GDP) decreased by 0.2 percent,” GDP rose marginally from a 0.1 percent decline for the year’s first quarter to a flat reading.
This means that Italy has avoided its third potential recession in the past six years, a likely relief for the government of Prime Minister Matteo Renzi, which has been struggling with reforms while keeping the deficit low in accordance with EU agreements.
Italy also noted that: “Compared to the…
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