Italy emerges from recession, Q1 growth. Policy-makers urge greater economic reforms
As new statistics Friday confirmed that Italy has pulled out of recession, politicians and policy makers cautiously cheered and said it was important to make the most of the new strengthen by advancing economic reforms.
Italy is in "the very advanced stage of convalescence" as it recovers from recession, Economy Minister Pier Carlo Padoan said at G7 meetings in Germany.
He spoke after Istat, Italy's national statistics agency, confirmed preliminary estimates and said that in the first quarter of this year, the economy grew by 0.3% after a loss of 0.3% in the final three months of 2014.
That marked the first quarter of growth in almost two years - since September 2013.
Italy is "no longer the sick man of Europe", added Premier Matteo Renzi.
Buttressing the new statistics on growth in gross ...