By IANS,
Rome : Italian Prime Minister Mario Monti has said the country’s economy will contract by 1.2 percent this year before returning to modest growth in 2013.
“Stimulating growth within a model of public-finance stability is the path for building a modern social market economy,” said Monti at a press conference Wednesday.
According to ANSA news agency, Italy’s economy is projected to grow by 0.9 percent in 2015, and 2.4 percent in 2020, thanks to the emergency government’s structural reforms.
Monti’s projection is part of the National Reform Plan which aims to promote sustainable growth in Italy in order to pull the country out of recession, reported Xinhua.
But contrary to the government report, the International Monetary Fund reported Tuesday that the Italian economy would shrink by 0.3 percent in 2013.