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Italy economy minister says growth outlook more difficult
July 17, 2014 / 7:50 AM / 3 years ago

Italy economy minister says growth outlook more difficult

ROME, July 17 (Reuters) - Signs of weakening economic growth have created a more difficult environment for the Italian government but will not weaken its determination to continue structural reform measures, Economy Minister Pier Carlo Padoan said on Thursday.

“The most recent macroeconomic data, if confirmed, indicate a delay in the mechanisms for a return to sustained economic growth in Europe and elsewhere. That is true for our country as well,” Padoan told parliament.

“The margins for government action in this case will be more restricted,” he said but added that the need for decisive reform action remained unchanged.

“This prospect is necessary for maintaining the difficult balance between consolidating public finances and supporting growth and jobs which the government is determined to continue,” he said.

Reporting by James Mackenzie, editing by Isla Binnie

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