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Italy economic recovery seen from mid-2013: Minister

Published on Nov 25, 2012 8:47 PM

MILAN (REUTERS) - The Italian economy should begin to recover from a painful recession in the second half of next year, Economy Minister Vittorio Grilli said in a newspaper interview on Sunday.

Mr Grilli also told La Stampa daily that the government would modify but not scrap a controversial tax on financial transactions, and clarified that he had no plans to carry on as minister once Prime Minister Mario Monti's term in office comes to an end.

"Our forecasts are that the recovery will start in the middle of 2013," he said.

The Rome government expects Italy's economy to shrink by 2.4 per cent this year and by 0.2 per cent in 2013.

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