Venerdì, 21 Settembre 2018
ROME

Bank of Italy say challenge is returning to 'stable growth'

English
© ANSA

Rome, December 21 - The Italian economy is set to
pull out of recession in the second half of next year, but the
real challenge is to ensure it enjoys solid, sustained growth,
the Bank of Italy said on Friday.
Italy has suffered from sluggish economic growth for a
decade and last year it slipped into its second recession since
the global financial crisis started in 2008.
"The contraction of gross domestic product has attenuated
in recent months and we expect it to keep doing so in the coming
months," said Bank of Italy Deputy Director-General Fabio
Panetta.
"The problem is not that of intervening in public finances
but of returning to growth. The Italian economy will see a
recovery in the second half of 2013, but we have to return to
grow stably and at a robust pace".
While Premier Mario Monti's austerity measures have
deepened the recession in the short term, his emergency
technocrat government has also introduced structural reforms
aimed at improving the country's growth prospects in the medium
and long term.
On Thursday Monti, who is about to resign as premier, said
Italy has only just started on the programme of reforms it
needed to take.
Panetta echoed those sentiments.
"Structural adjustments can no longer be put off," Panetta
said.
"The path taken isn't an easy one, but we've started".

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