Domenica, 23 Settembre 2018
ROME

Italy 'won't get more time to balance budget'

English
© ANSA

Rome, May 6 - Italy won't be granted more time to
balance its budget, a spokesman for European Financial
Commissioner Olli Rehn said Monday.
Deputy Economy Minister Stefano Fassina said Sunday the
European Union should give Italy "another two years" to balance
the budget in structural terms, at or slightly above 3% of GDP,
for at least two years because of the need to spend to stoke
growth.
Rehn said the 3013 target of 3% was a must because of
Italy's "very high" debt of 130% of GDP, the second-biggest in
the eurozone after Greece's.
Recent figures say Italy's budget-to-GDP ratio should be
2.9% this year and 2.4% next, but this has not taken probable
new government spending into account.

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