Govt sticking by forecast of 8% GDP

Loan moratorium 'plan has taken off' - min

(ANSA) - Rome, June 12 - The government still thinks Italian GDP will fall by 8% this year although there are "risks" that this figure may worsen, Economy Minister Roberto Gualtieri said Friday.
    "We are sticking to the estimate of -8% for the GDP, naturally we know that there may be risks of a (further) drop but the data from May and April are in line with the estimate, and in some cases even better," he said at a video conference of Goldman Sachs.
    The Bank of Italy has said GDP will fall between 9 and 13 percent this year while international organisations are forecasting an even steeper drop.
    Gualtieri added that the government had guaranteed loans to small and medium firms for over 11 billion euros, and set a moratorium for over two million households.
    "The plan has taken off," he said.
    After the moratorium, he said, there would be more non-performing loans (NPLs), "but not only in Italy".
   

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