Mercoledì, 17 Ottobre 2018
ROME

Audit Court urges aggressive growth strategies

English
© ANSA

(ANSA) - Rome, October 2 - Italy needs more aggressive
growth strategies to offset the drop in the nation's aggregate
demand, the head of the Audit Court said Tuesday.
As sluggish demand drags down the national GDP, it is
"necessary to strengthen the strategy for growth, focussing on
more ambitious targets than those already adopted," Luigi
Giampaolino told a joint session of the House and Senate budget
committees.
But cutting spending through austerity programs and raising
taxes won't work in a recession, he warned.
Such measures "are very expensive...and proved partly
ineffective," because they drive down spending and demand in the
economy.
What would help is streamlining government administration
to reduce waste and duplication, he added.
"There is the need...to move with still more
determination," in implementing such reforms, he said.

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