November 23, 2017 / 6:55 AM / a year ago

Italy economy could grow above 1.5 pct this year - minister to paper

MILAN, Nov 23 (Reuters) - The Italian economy could grow above 1.5 percent this year, Economy Minister Pier Carlo Padoan told La Repubblica in an interview.

“Even though I’ve seen forecasts that indicate a slowdown in 2018-19, we expect that the recovery will be sustainable,” Padoan told the paper. “Already for this year there is a possibility that matters could improve: I think growth, in the end, could exceed 1.5 percent,” he said.

The minister added that the case of Banca Carige and Creval, which have to issue shares to stave off the threat of being wound down, were not a sign of a banking system in difficulty.

He also added authorities had supervised Italy’s banking sector in an adequate manner but bad management at lenders should have been dealt with in a more decisive way. (Reporting by Agnieszka Flak)

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