Sabato, 22 Settembre 2018

Letta says Italy can grow without debt


Rome, May 6 - Premier Enrico Letta said Monday that
it is possible for Italy to pursue policies that will help it
return to growth without increasing the country's massive public
debt, but he warned it will not be easy.
Letta, who was sworn in at the helm of a left-right
coalition government eight days ago, faces big headaches in
trying to finance pledges to cut labour taxes and measures to
boost growth and cut unemployment without reneging on Italy's
commitment to the European Union to cut its public deficit.
He also has to find money to cover a promise to suspend the
June rate of IMU property tax, to refinance the budget for
unemployment benefits as applications sour with the recession
biting hard and to try to avert a 1% rise on the top band of
value added tax scheduled for July.
"It is possible to grow without getting into debt, other
European countries have proven it," Letta said.
"We, on the other hand, are proof that getting into debt
does not mean promoting growth. We've created lots of debt in
recent years, without growing.
"I never said it would be easy. On the contrary, I'm very
well aware that it's difficult. But this is the aim".
Letta went on a tour of European leaders last week in which
he urged them to make promoting growth as important for the EU
as encouraging fiscal consolidation.
He said the EU was in "a crisis of legitimacy, when
citizens need it most" and that it had to become "an engine for
sustainable growth".
He also said he intends to propose measures to promote
growth at a summit of European leaders in June.

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