Rome

Italy GDP contracted 230 billion euros in 2009-2013

Audit court releases 2013 report

Italy GDP contracted 230 billion euros in 2009-2013

Rome, May 28 - The nominal contraction of Italian gross domestic product (GDP) in Italy in the 2009-2013 period totalled more than 230 billion euros, according to comments made by Luigi Giampaolino, president of the Rome-based Audit Court on Tuesday. Italy, which is the eurozone's third-largest economy, failed to meet its balanced budget objective this year by 50 million euros, Giampaolino said during a presentation outlining the body's 2013 report on public finances.

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