Martedì, 23 Ottobre 2018

Italian economy min denies more austerity likely in 2014


(see related story)
Rome, November 27 - Italian Economy Minister
Vittorio Grilli on Tuesday said he did not think that Italy
would need more austerity measures in 2014 after an OECD report
warned that it might.
"I believe it will not," Grilli said, referring to whether
major budget tightening would be needed again in 2014 to keep
Italy on its planned path of structural debt reduction.
The OECD report on Tuesday revised down growth forecasts
for Italy this year and next, and said Italy's government may
need to slash spending again in 2014, despite painful austerity
measures of tax hikes and spending cuts introduced by Premier
Mario Monti's emergency technocrat government since coming to
power last year.
The OECD said it expected Italy's gross domestic product to
fall 2.2% this year and 1% in 2013, compared to May forecasts of
contractions of 1.7% and 0.4% respectively.

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