Italy's economy to fall back to same level as 23 years ago with GDP shrinking by 10%: Report
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According to a report by the General Confederation of Italian Industry or Confindustria, Italy is going to witness a contraction of 10 percent in its GDP. According to the prediction by Confindustria, the slump will undo 23 years of economic progress in the country taking it to the same level as 1997. Minister of Economy and Finance Roberto Gualtieri said the government's estimate was somewhat close to that of Confindustria.