Testing times ahead for Italy

09:15, April 01, 2010      

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Italy's ability to tackle its high debt amid low economic growth "will be tested," Moody's Investors Service said.

Italy is struggling to shake off a recession that saw the economy contract 5.1 percent last year, the most in at least three decades. Debt will rise this year to 117 percent of gross domestic product, the second-highest in the EU, after Greece, according to European Union forecasts.

"The government faces some challenges in growing out of its high public-debt levels given the current context of low economic growth," Alexander Kockerbeck, a Moody's analyst, said in a report released on Wednesday. "Italy has a proven track record in managing."

Source:China Daily

(Editor:黄蓓蓓)

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