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Bank of Italy: economy to grow in 2010, a little

Bank of Italy: economy to grow in 2010, a little

Italy's economy is expected to grow slightly in 2010 after contracting some 5 percent this year as a result of the global downturn, the Bank of Italy chief said Wednesday.
"In the next year, the gradual recovery of global demand foreseen by the major international organizations could let the Italian economy return to growth, albeit slightly," Mario Draghi was quoted as saying by the ANSA and Apcom news agencies.
Europe's two biggest economies, Germany and France, returned to economic growth in the second quarter, up 0.3 percent from the previous three month period. But Italy, Europe's fourth-largest economy, saw its GDP fall another 0.5 percent in the quarter.
Draghi has estimated the Italian economy would contract some 5 percent in 2009, and wouldn't reach 2007 levels until 2013.
"We are beginning to see the first signs that we are slowly emerging from the crisis," Draghi told a conference in the Adriatic city of Rimini. "I won't say the crisis is over, because there are still many risks that don't give me certainty of the permanence of these signals.
"But certainly there are positive signals," he said.


Updated : 2021-08-04 02:48 GMT+08:00