Giovedì, 18 Ottobre 2018

Italy considers changing 2013 debt calculations


Rome, March 21 - Italy's government is considering
a draft bill that would permit revisions in how it calculates
its 2013 deficit.
The European Commission (EC) in Brussels has given Italy
more flexibility in how it monitors payments in calculating
national debt.
That, in turn, would give the country some extra leeway in
its debt calculations since it faces major challenges in meeting
the deficit and debt targets set by the European Stability Pact.
Earlier this month, outgoing Italian Premier Mario Monti
sent a letter to European leaders at an EU summit in Brussels
saying that Italy should be able to use "every possible ulterior
margin" within the European Stability Pact to be able to boost
growth and employment.
Monti's emergency administration implemented austerity
measures to comply with European budget commitments but these
policies deepened Italy's recession and caused unemployment to
rise above 11%.
The EC's Late Payments Directive, which came into force in
mid-March, aims to ensure public sector contractors are paid
promptly and prevent the further accumulation of commercial debt
by public administrations.

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