Italy to spend 100 billion euros this year to import energy

MILAN (Reuters) - The cost of Italy's net energy imports will approach 100 billion euros ($99.51 billion) this year, wiping out the net surplus in exchanges with the rest of the world the country had recorded in recent years, Economy Minister Daniele Franco said on Saturday.

Addressing the annual Ambrosetti business forum, Franco said Italy last year had relied on imports for 75% of its energy consumption. Net energy imports cost 43 billion euros.

"We're transferring wealth abroad," Franco said.

"(The 100 billion euro figure) amounts to three percentage points of gross domestic product which we are transferring to energy-producing countries."

($1 = 1.0049 euros)

(Reporting by Valentina Za and Elvira Pollina; Editing by Andrew Cawthorne)