Italy plans to dispose public assets between EUR 15 billion and EUR 20 billion each year in order to reduce its public debt by 20 percent in five years, Finance Minister Vittorio Grilli said in a newspaper interview.
The sale of assets worth 1 percent of gross domestic product with an annual 1 percent economic growth would help to cut the public debt as planned, he told Corriere della Sera. Italy's public debt currently equates 123 percent of GDP.
The economy will contract less than 2 percent this year, Corriere cited the minister as saying. The government has earlier projected a 1.2 percent fall in GDP this year.
by RTT Staff Writer
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