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EU's Moscovici says Commission will continue monitoring Italy's economy

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(Reuters) - The will continue to closely monitor developments in the Italian economy after it slashed its growth forecasts for the country this year and next, the EU's said on Thursday.

said signs of a rebound for the Italian economy driven by higher public spending were not visible and that without the cut of Italy's targeted deficit agreed with in December, the conditions of the Italian economy would be much worse than forecast.

The Commission in its quarterly forecasts said earlier on Thursday that will post the slowest growth rate in the EU this year and next, with growth expected to be at 0.2 percent this year, much lower than previously estimated.

(Reporting By and Francesco Guarascio)

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

First Published: Thu, February 07 2019. 16:34 IST