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EU to issue new GDP forecasts for Italy, EU next month, Moscovici says

EU to issue new GDP forecasts for Italy, EU next month, Moscovici says© Reuters. European Commissioner for Economic and Financial Affairs Moscovici attends a news conference in Paris

BRUSSELS (Reuters) – The European Commission would not comment on the International Monetary Fund’s lower forecast for economic growth in Italy in 2019, saying it would publish its own revised forecasts for Italy and other EU countries next month.

The IMF lowered its forecasts for growth in Italy’s gross domestic product in 2019 to 0.6 percent from an earlier forecast of 1 percent. The Commission in November predicted Italy’s economy would grow 1.2 percent this year. It did not say whether that forecast would be lowered.

“The Commission will revise its own forecasts not only for Italy but for the whole EU in a few weeks from now,” Moscovici told reporters in Brussels.

Asked whether Italy’s forecasts will be lowered, he said: “I have got no information to give on that. This is work ongoing. I don’t even have any figure.”

The new quarterly forecasts are expected on Feb. 7.

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Source: Investing.com

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