Venerdì, 19 Ottobre 2018
ROME

3% target not only factor in EU excessive-deficit decision

English
© ANSA

Rome, April 22 - The European Commission said
Monday that it will not only look at whether Italy has brought
its deficit under the permitted threshold of below 3% of gross
domestic product (GDP) when deciding whether to lift the
excessive deficit procedure against the country.
The EC is set to decide on May 29 whether to close the
procedure.
The government has forecast that recession-hit Italy's
deficit will be 2.9% of GDP this year, following tax hikes and
spending cuts adopted by outgoing Premier Mario Monti's
emergency technocrat administration.
Italy had a deficit-GDP ratio of 3% in 2012, Eurostat said
on Monday.
"We don't look only at the 3% target," said an EC
spokesperson when asked about the procedure against Italy and
several other European Union member states.
"It's a nominal target. The efforts the countries are
making to restore health (to their public finances) are more
important than the nominal value".

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