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Business & Finance

Italy's GDP shrank 8.9% in 2020: stats agency

  • The fall is slightly less than that predicted by the Bank of Italy and the International Monetary Fund.
Published February 2, 2021

ROME: Italy's virus-stricken economy shrank by 8.9 percent last year, national statistics office Istat said Tuesday.

The fall is slightly less than that predicted by the Bank of Italy and the International Monetary Fund, but still represents the biggest contraction in gross domestic product (GDP) since the end of World War II.

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