Italian Finance Minister Padoan officially lowered GDP forecasts
Reuters had previously reported that the GDP forecast would be cut to -0.2% to -0.3%.
Padoan forecasts GDP will rise 0.6% in 2015.
The consensus is -0.2% this year and +0.8% so those are some conservative estimates.
They see the deficit-to-GDP at 3% this year and 2.9% next year. Renzi promised not to exceed the 3% EZ limit but that doesn’t leave much room for error.
