Giovedì, 18 Ottobre 2018

Italy may need corrective budget measures, says OECD


(see related story on OECD forecasts)
Rome, May 2 - Italy will need to introduce
corrective budget measures if it fails to get its deficit-to-GDP
ratio below 3%, the OECD said on Thursday.
The OECD forecast in a report that Italy will have a
deficit of 3.3% of GDP, above the 2.9% forecast by the Italian
Rome is hoping this month to convince the European
Commission that it has got the deficit below the 3% threshold
allowed by the EU so that it ends the excessive-deficit
procedure against the recession-hit country.
"It will be necessary to do something (if the deficit is
over 3%)," OECD Chief Economist Pier Carlo Padoan said.
"Coming out of the infraction procedure is fundamental".
The OECD also forecast on Thursday that Italy's massive
public debt will rise to 134% of GDP next year.
The report said reducing this was a priority because
otherwise the country would "remain exposed to sudden changes in
the mood of the financial markets".

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