Italy set to enter recession in 2012 | Inquirer Business

Italy set to enter recession in 2012

/ 06:11 AM December 05, 2011

ROME—Deputy Economy Minister Vittorio Grilli said Sunday Italy was set to enter a recession in 2012, with Gross Domestic Product predicted to shrink by 0.4 to 0.5 percent.

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.

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TAGS: economy, Finance, Italy, public debt, Recession

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