Italian central bank chief sees 1.0 percent growth in 2006)

0 Comments | AFP, October, 2005

ROME (AFP) — Italian central bank governor Antonio Fazio forecast that economic growth in Italy would pass 1.0 percent in 2006, as Italy "overcomes" a difficult turn in its economy.

The head of the Bank of Italy made the prediction on next year's economic outlook in a communique marking world savings day.

As for third quarter of this year, Fazio said "gross domestic product should climb to nearly 0.5 percent" and that GDP growth for the all of 2005 "should be somewhat positive in comparison with the year before."

"The involvement of businesses, politicians and institutions will contribute to overcoming this difficult period in our economy," Fazio said Saturday.

The Italian economy grew by 0.7 percent in the second quarter of 2005 from the first...