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New Fiat CEO sees tough 2003, sticks to targets

MILAN, Dec 17 (Reuters) - The newly appointed chief executive of Fiat said on Tuesday he expected possible signs of recovery only at the end of next year, adding 2003 would be "not easy."

"In general the markets will certainly not be brilliant," Alessandro Barberis said in a statement quoting his speech to Fiat managers. "Perhaps some signs of recovery will be seen towards the end of the year."

Barberis, who took over last week as CEO following the resignation of Gabriele Galateri, also said the company planned to stick to financial targets agreed earlier this year with creditor banks which included debt-cutting.