Domenica, 21 Ottobre 2018

Government meeting for debt-repayment plan delayed


(see previous) Rome, April 3 - A cabinet meeting slated
for Wednesday to decide on a government debt-repayment plan to
private companies has been delayed, the economy ministry said.
The government announced that Wednesday meetings
originally scheduled for 10 am, then postponed to 7 pm, instead
will be held "in the upcoming days".
Earlier on Wednesday the economy ministry denied rumours
that would be turning to regional income tax hikes to fund debt
repayments to companies.
Government officials met on Tuesday to set out a time line
for the 40 billion euros in debt payments and to establish tax
measures for doing so.
Italian Economy Minister Vittorio Grilli said last
Thursday the government would not borrow money to pay back the
public debt to the private-sector over the next two years, which
it hopes would give a much-needed boost to the country's
recession-hit businesses.
"We hope that eventually the rights of the companies will
be recognized," Giorgio Squinzi, the head of Italy's powerful
industrial employers' association Confindustria, said.
"Businesses are suffering desperately from the lack of
credit. There is a sense of despair affecting many
entrepreneurs," Squinzi said.
The government announced plans last week to pay back debt
by 20 billion euros in 2013 and 20 billion euros in 2014.
Business associations have said it is not enough.
Italian media reports have suggested that the government
might try to get the funds from bond sales or spending cuts.

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