Venerdì, 21 Settembre 2018
BRUSSELS

OECD praises EC motion to lift excessive-deficit procedure

English
© ANSA

Brussels, May 26 - OECD Chief Economist Pier Carlo
Padoan said Monday that the European Commission's recommendation
to remove Italy from its excessive-deficit procedure "was an
important development, and crucial that it arrived just now".
On Sunday the EC said it proposes to close the process
against Italy in light of forecasts that its deficit-to-GDP
ratio will be 2.9% this year, taking it under the 3% threshold
permitted by the EU.
Premier Enrico Letta, who has been pushing the EU to drop
the procedure by the end of this month or early June, called the
announcement "good news for the country" which he hopes will
give "a boost to the economy".
The motion will be submitted for approval on Wednesday.

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