Italian Prime Minister Matteo Renzi excluded the possibility on Friday of a new cost-cutting corrective budget after economic growth unexpectedly fell in the first quarter of the year.
Renzi, speaking on a morning radio talk show, said the budget had already been passed and that he did not expect further measures. He said Italy must move ahead with more measures to stimulate the economy, which came out of recession last year but remains fragile.
Preliminary estimates from statistics office ISTAT on Thursday showed gross domestic product fell by 0.1 percent in the first three months of the year from the previous quarter and by 0.5 percent from the same period a year earlier
That contrasted with estimates from 27 analysts polled by Reuters, who forecast a 0.2 percent quarterly rise and a 0.1 percent annual fall.
Source: Reuters
Renzi, speaking on a morning radio talk show, said the budget had already been passed and that he did not expect further measures. He said Italy must move ahead with more measures to stimulate the economy, which came out of recession last year but remains fragile.
Preliminary estimates from statistics office ISTAT on Thursday showed gross domestic product fell by 0.1 percent in the first three months of the year from the previous quarter and by 0.5 percent from the same period a year earlier
That contrasted with estimates from 27 analysts polled by Reuters, who forecast a 0.2 percent quarterly rise and a 0.1 percent annual fall.
Source: Reuters
