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Govt working to relaunch Italy's economy: Conte

IANS 

Rome, Jan 12 (IANS/AKI) The populist government is planning a series of new laws to kick-start Italy's ailing economy, premier said.

"The government is planning to introduce numerous new laws to change the country and re-launch the Italian economy," Conte said on Friday.

He made the remarks to a of Italian labour consultants taking place in

Conte's remarks came as figures issued on Friday by Italy's central statistics agency showed industrial output fell 1.6 percent in November from the previous month and dived 2.6 percent from November 2017 - the biggest drop since October 2014.

The worst-than-expected data were a further sign that - the euro zone's third-largest economy - is heading for another recession amid the spectre of a European slowdown, analysts said.

Italy's economy shrank 0.1 percent in the third quarter of 2018, and data indicate further a further contraction in October to December. will release preliminary GDP figures for the fourth quarter at the end of the month.

The government has already had to trim its growth outlook for this year and its big-spending budget's deficit target to avert sanctions for breaching fiscal rules.

--IANS/AKI

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, January 12 2019. 03:28 IST
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