Economy

xchrom

(108,903 posts)

24. Italy slashes its 2012 growth forecast

Wed Apr 18, 2012, 08:44 AM

Apr 2012

http://www.bbc.co.uk/news/business-17759429

The Italian government has slashed its forecast for the economy in 2012.

It was previously predicting a 0.4% contraction in the economy, but has cut that to a 1.2% contraction.

The government has also admitted that it will not be able to meet its target of balancing the budget by 2013.

It now says that it will be able to balance the budget by 2015, which is still more optimistic than the IMF, which says Italy will not have a balanced budget until at least 2018.

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