8 June 2001, 11:52  Italy govt reportedly sees 2001 public deficit 1.1-1.3 pct of GDP

MILAN (AFX) - The treasury ministry expects the public deficit to represent 1.1-1.3 pct of GDP this year, 0.5 pct in 2002 and to be erased in 2003, the daily Il Sole 24 Ore said without giving a source. For 2001, the government had initially estimated a deficit of 0.8 pct of GDP, a figure then revised to 1.0 pct. According to the ministry's forecasts being drawn up for the financial and economic programme for the years 2002-2005, GDP is expected to grow 2.4 pct this year and 2.7-2.8 pct in 2002. Inflation is forecast at 2.3-2.5 pct this year and 1.5 pct in 2002. The public deficit is seen at 106.2 pct of GDP in 2001 and gradually falling to below 100 pct in 2003. The document is due to be approved by the cabinet by the end of the month and the new right-wing government, scheduled to come into power in the coming days, could modify the forecasts, the daily said.

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