Italy's Passera Sees Return To GDP Growth In 2012 - Report
First Published Monday, 23rd April 2012 12:16 am - © 2012 Dow Jones
Dow Jones NEWSWIRES
Italy's Industry Minister, Corrado Passera, said Sunday he believes the country could return to positive growth this year as the government is speeding up reforms and thanks to economic incentives worth over EUR100 billion in the short and medium term, reports La Repubblica in its Monday Internet edition.
"The combination of these things makes us hope that in the course of the year (Italy) can change" direction, he was quoted as saying.
In the three-year National Reform Plan approved by the cabinet last week, the government slashed its economic growth forecasts. It now expects a contraction of 1.2% of GDP this year, up from a previous forecast of a 0.5% contraction. Growth should resume in 2013, with a modest 0.5% expansion.
Newspaper Web site: www.repubblica.it
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