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Post: Italian PM says economy shows no signs of recession

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Italian Prime Minister Mario Draghi. Archive photo

Mario Draghi: Italy’s economy is slowing but no recession

ROME, September 16 – RIA Novosti. Prime Minister Mario Draghi said the Italian economy showed a slowdown in growth, but showed no signs of recession.

“International forecasts (GDP growth) are 3%, now we are showing 3.5%, they are predicting a semi-recession next year and the IMF is seeing growth of 0.6%. There is obviously a slowdown, but I still don’t think so. “We’re seeing signs of a recession,” Draghi said at the meeting.

The Economy and Finance Minister of the country, Daniele Franco, also announced the signs of slowdown in the economy in the third quarter of the year and assured that there was no sign of a recession.

“We closed the first part of the year well above expectations. We closed the second quarter with a growth of 1.1 percent. This is a very high growth compared to other countries. There are obvious signs of slowdown in the third quarter, more in the manufacturing industry than in services. Let’s see how this quarter will end, but there will be no recession,” he said.

According to the National Institute of Statistics Istat, GDP growth in Italy in the second quarter was 4.6% year-on-year. According to statistics, the economy grew by 0.1% in the first quarter.

Source: Ria

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