Martedì, 23 Ottobre 2018

Italy reaping benefits of government policy, says Monti


Rome, November 27 - Italy is already reaping the
benefits of his government's reforms through lower interest
rates and greater market stability, Premier Mario Monti said
Monti was responding to an OECD economic forecast earlier
in the day that warned the country isn't yet on the right
economic path and faces more painful austerity measures.
Monti, who was appointed to head a caretaker government one
year ago, disagreed, saying his programs of tax hikes and
spending cuts are putting Italy back on the right course.
"(We are) doing very well in the markets and the work of
this government ensuring a credible path out of the crisis,
removing market uncertainty, and normalizing the supply and cost
of credit is already visible in the low financing rates," said
The OECD said it expected Italy's gross domestic product
(GDP) to fall 2.2% this year and 1% in 2013, compared to May
forecasts of contractions of 1.7% and 0.4% respectively.
In a statement, government officials suggested that main
difference between the latest OECD forecasts and others stem
from different views of technical changes to tax policies.

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