Domenica, 21 Ottobre 2018

Codacons calls Italian govt growth estimates a 'mirage'


Rome, February 14 - Italian consumer association
Codacons has defined government growth estimates for 2013 as 'a
mirage' in light of the latest figures from the national
statistics institute.
On Thursday Istat said recession-hit Italy's gross domestic
product (GDP) fell 2.2% in 2012 with respect to the previous
year according to seasonally adjusted data.
If GDP posts no growth in each quarter of 2013 it will drop
a further 1% compared with this year, it added.
The figures "show that government growth estimates for the
end of 2013 are somewhat miscalculated, not to say miraculous.
In short: a mirage," Codacons said in a statement.
"It is no accident that the European Central Bank has just
revised downwards its growth estimates for the entire eurozone,
predicting that GDP will remain unchanged in 2013, namely that
there will be no growth until 2014".
No sector of the Italian economy has been spared the
crisis, the consumer association said.
Codacons also called for the new government that will
emerge from elections on February 24 and 25 to reconcile
measures for book-balancing and growth.

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