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Saccomanni says banks must increase lending

Economy minister urges lenders to spread liquidity

08 January, 19:06
Saccomanni says banks must increase lending (ANSA) - Rome, January 8 - Banks must step up their lending to business if Italy is to recover from recession, Economy Minister Fabrizio Saccomanni said Wednesday.

In remarks to the Senate, Saccomanni said that banks must inject liquidity into the struggling economy through loans, particularly to small- and mid-sized businesses.

Difficulty obtaining funding has been a serious problem for businesses trying to survive in an economy hit by the worst recession since the Second World War.

Saccomanni and other government officials have previously said they expect Italy would begin to emerge from recession in the fourth quarter of 2013.