Italy cuts 2013 economic forecast to 1.3% contraction in GDP

Deficit-to-GDP ratio in 2014 will be 1.7%, minister Grilli says

Italy cuts 2013 economic forecast to 1.3% contraction in GDP

(ANSA) – Rome, March 21 – The Italian government on Thursday slashed its economic forecasts for 2013 to a 1.3% contraction, compared with an earlier prediction of a 0.2% drop in gross domestic product this year. The economy will grow 1.3% in 2014, Italian Finance Minister Vittorio Grilli said, slightly higher than a previous forecast of 1.1% growth. The deficit-to-GDP ratio next year will be 1.7%, Grilli added.

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