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Terror threat could harm Italy recovery, GDP to grow by 0.9%

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Staff writer ▼ | December 2, 2015
Pier Carlo Padoan
Italy   Economy Minister Pier Carlo Padoan:

Italy's Economy Minister Pier Carlo Padoan said that Italy's predicted return to growth for 2015 could be harmed by the fallout of the recent Paris terror attacks.

Government estimates predict Italian GDP to grow by 0.9 percent in 2015, but following the November 13 attacks experts have suggested that the forecast may need to be lowered.

"The climate following the terrible Paris attacks is negative and could affect economic recovery," Padoan told Corriere Della Sera.

"The figure of 0.9 percent is a prediction, not a goal, and like all predictions it may need to be changed."

But the minister maintained that it was still too early to tell what effects the attacks would have on the Italian economy.

"At the moment there is not enough concrete evidence suggesting that we will need to lower our estimate."

In the wake of the attacks, many worried European tourists have chosen to stay at home and experts fear the important festive shopping season will be hit as shoppers steer clear of crowded Christmas markets amid a climate of fear.


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