S and P confirms negative outlook for Italy
Rating agency Standard and Poor's (S and P) has confirmed the BBB rating for Italy, saying the outlook remained negative while noting the "encouraging intentions" of the current government.
The US rating agency, which has cut Italy's creditworthiness three times since May 2011, Friday said in a statement the estimates for growth in the country remained "weak both in real and nominal terms", reported Xinhua.
"The modest prospects for growth in Italy reflect the uncertain progress of the reforms carried out by its three previous governments," the S&P said.
A huge public debt, which is at around 133 percent of gross domestic product (GDP), as well as tight credit conditions for companies, were also constraining the ratings on the country, the agency added.
Regarding the cabinet of Prime Minister Matteo Renzi, which has outlined a plan of structural reforms to foster recovery, the agency highlighted the "important progress made on budget and structural reforms".
However, despite the "encouraging intentions," the S&P said it was "too soon to judge how much of the programmes can be implemented and over what time of period".
Italy emerged from a dramatic recession at the end of last year but recent indicators have highlighted substantial stagnancy, with exports remaining a key supporting factor to the economic activity.
(Posted on 07-06-2014)
Information on States of India:
Andaman Nicobar | Andhra Pradesh | Assam | Bihar | Chandigarh | Chhattisgarh | Dadar Nagar Haveli | Daman Diu | Delhi | Goa | Gujarat | Haryana | Himachal Pradesh | Jammu Kashmir | Jharkhand | Karnataka | Kerala | Lakshadweep | Madhya Pradesh | Maharashtra | Manipur | Meghalaya | Mizoram | Nagaland | Orissa | Pondicherry | Punjab | Rajasthan | Sikkim | Tamil Nadu | Tripura | Uttar Pradesh | Uttaranchal | West Bengal
INDIA REGIONAL MAPS:
Andhra Pradesh Travel Map | Bihar Travel Map | Goa Travel Map | Gujarat Travel Map | Haryana Travel Map | Himachal Pradesh Map | Karnataka Travel Map | Kerala Travel Map | Maharashtra Travel Map | Punjab Travel Map | Rajasthan Travel Map | Sikkim Travel Map | Tamil Nadu Travel Map | Uttar Pradesh Travel Map | West Bengal Travel Map |
MORE MAPS OF INDIA:
INDIA CITY MAPS:
KERALA TRAVEL MAPS: