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Italy says IMF growth targets reachable

GENOA, Italy: Prime Minister Massimo D'Alema said on Saturday the Italian economy was in good shape and growth estimates made by the International Monetary Fund (IMF) for the next two years were within reach.

The IMF said on Thursday that Italian gross domestic product (GDP) could grow over 2.5 percent this year and "in principle" by 2.7 to 2.8 percent in the next two years.

Asked if those targets were achievable, D'Alema said: "Yes, I think the estimates made the IMF are achievable...the previous forecasts for 2.2 percent growth seem to me to be clearly an underestimate."

D'Alema was speaking in Genoa at the presentation of plans for a Group of Eight summit to be held in the northern Italian port city in June 2001.

"If the IMF says the economy will grow at 2.7 to 2.8 percent then the source is an authoritative one," he said.-Reuters