05 Dec '11, 12am

Italy set to enter recession in 2012, its deputy economics minister says

Italy set to enter recession in 2012, its deputy economics minister says

Deputy Economy Minister Vittorio Grilli said on Sunday Italy was set to enter a recession in 2012, with Gross Domestic Product predicted to shrink by 0.4 to 0.5 per cent. -- PHOTO: REUTERS ROME (AFP) - Deputy Economy Minister Vittorio Grilli said on Sunday Italy was set to enter a recession in 2012, with Gross Domestic Product predicted to shrink by 0.4 to 0.5 per cent. Italy's growth should level out again by 2013, he added during a press conference following the adoption by the cabinet of a draconian package aimed at pulling the country back from the brink of insolvency.

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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