The new government's estimates have been reduced and indicate that Italy will grow 1.2% this year and between 1% and 1.1% in 2019


 Italy: With the reduction of economic growth, a bigger deficit for next year of 1.2% is expected (Getty Images / Getty Images)
Rome - Italian Economy Minister Giovanni Tria said on Wednesday that the country's economic growth is expected to decline until next year but that the government will remain faithful to its fiscal commitments.
The new government estimates the country will grow 1.2% this year and between 1% and 1.1% next year, Tria said, according to the Italian daily Il Sole 24 Ore, below the government's most recent forecast. 1.5% this year and 1.4% in 2019.
This would translate into a larger deficit for the next year of 1.2%, compared to the previous estimate of 0.8%.
In addition, it would also slow the pace at which Italy planned to reduce its huge debt. The previous government, led by Paolo Gentiloni, predicted a reduction of public debt to 122% of Gross Domestic Product (GDP) in 2021, from 131.8% in 2017.
"What counts is the way down [to debt], which is not under discussion," he told the Il Sole 24 Ore newspaper, adding that the entire government agrees to respect the financial constraints imposed by the European Union.

Italy reduces growth estimate for 2018 and 2019

The new government's estimates have been reduced and indicate that Italy will grow 1.2% this year and between 1% and 1.1% in 2019


 Italy: With the reduction of economic growth, a bigger deficit for next year of 1.2% is expected (Getty Images / Getty Images)
Rome - Italian Economy Minister Giovanni Tria said on Wednesday that the country's economic growth is expected to decline until next year but that the government will remain faithful to its fiscal commitments.
The new government estimates the country will grow 1.2% this year and between 1% and 1.1% next year, Tria said, according to the Italian daily Il Sole 24 Ore, below the government's most recent forecast. 1.5% this year and 1.4% in 2019.
This would translate into a larger deficit for the next year of 1.2%, compared to the previous estimate of 0.8%.
In addition, it would also slow the pace at which Italy planned to reduce its huge debt. The previous government, led by Paolo Gentiloni, predicted a reduction of public debt to 122% of Gross Domestic Product (GDP) in 2021, from 131.8% in 2017.
"What counts is the way down [to debt], which is not under discussion," he told the Il Sole 24 Ore newspaper, adding that the entire government agrees to respect the financial constraints imposed by the European Union.

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