Mercoledì, 24 Ottobre 2018

'Balanced budget linchpin of govt policy' says Monti


(ANSA) - Rome, September 30 - Balancing the budget in 2013
remains the linchpin of the Italian government's programme to
bring public finances under control, Premier Mario Monti said
Thursday as the government lowered its two-year growth
"The linchpin of our policy of fixing the public accounts
remains unchanged: namely, it remains the objective of a
structurally balanced budget in 2013," the PM said.
A structurally balanced budget - within 0.5% of GDP - was
the fiscal policy's "anchor", he said.
Monti confirmed the goal of a balanced budget in 2013
despite a worse-than-expected recession and the impact of
unforeseen natural disasters like the devastating earthquakes
that hit Emilia Romagna.
In the new forecasts, the economy will contract by 2.4%
this year and 0.2% in 2013.
Despite this, Monti said the economy would in fact pick up.
"The light of the recovery can be seen. Next year will be a
year of recovery," he said.
The markets would punish Italy and it would be harder to
push Europe for growth policies if Rome did not continue on its
current policy track, he said.
Monti said government policy would be geared towards
cutting spending rather than raising taxes.
The national debt will be 123.3% of GDP in 2012 and fall to
122.3% in 2013, according to the latest forecasts.
The government confirmed a goal of selling off State assets
worth some 1% of GDP per year to bring the debt down.

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