Italy Said to Target Economic Growth of About 1 Percent in 2016

  • Target is in economic plan, person familiar with matter says
  • Cabinet expected to meet late Tuesday to discuss budget

Italy targets economic growth of about 1 percent this year and about 1.2 percent next year in an economic plan due to be discussed at a cabinet meeting late on Tuesday, according to a person familiar with the matter.

The person, who commented in a text message, could not be named as he is not authorized to publicly discuss the plan.

Italian Finance Minister Pier Carlo Padoan said earlier this month that government estimates to be approved by the cabinet will be better than the ones published by employers’ lobby Confindustria for both this year and next.

Confindustria had said in a report that gross domestic product will increase an annual 0.7 percent in 2016, compared with 0.8 percent growth last year. It said that the economy will expand at an even slower pace of 0.5 percent next year.

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