The Italian economy did not
endure a year of recession in 2014, according to revised GDP
data released by Istat on Friday.
The national statistics agency said GDP rose by 0.1% in
2014, 0.4 of a percentage point higher than the negative growth
of -0.3% estimated in March.
Istat President Giorgio Alleva said Friday that the
national statistics agency's revised data for 2014 showed that
the crisis "turning point" was earlier than previously thought.
He also said it showed Italy's recovery began at the same
time as its eurozone partners.
"There was a element of debate (about the recovery) -
first the others, then us," Alleva said.
"The revision makes our position more coherent with the
European picture".
The economy ministry said that Istat's revised GDP data
for 2014 showed that the economic recovery coincided with the
arrival of Premier Matteo Renzi's government early that year.
"The first year of recovery coincides with the swearing-in
of this government," a ministry spokesperson said.
"This encourages us to continue in the direction the
executive has taken... the 2014 revision suggest that the
government's demand-support policies had an impact right from
the first year.
"The intensity of the recovery is not considered
satisfactory," the spokesperson added. "But growth came back
three years ago".
ALL RIGHTS RESERVED © Copyright ANSA