12 October 2001, 14:41  Italy's Fazio sees 2001 GDP growth near 2 pct

ROME (AFX) - Bank of Italy governor Antonio Fazio said it is possible that GDP growth to be nearly 2 pct this year. The government forecast GDP growth at 2 pct this year. Speaking in the senate, Fazio said the government's measures to stimulate the economy present in the 2002 draft budget will positively impact demand in the short-term. Fazio said pension, health and public administration reforms have to be carried out by the end of next year, adding that public spending has to fall annually by 1 percentage point in relation to GDP over the coming years to enable tax cuts.

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