Lunedì, 24 Settembre 2018

Rewards for beating deficit procedure 'next year' says Letta


Rome, June 25 - Premier Enrico Letta told the Lower
House on Tuesday that benefits will surface next year following
the closure of a European Commission-mandated excessive-deficit
procedure against Italy.
"The reward will come next year, in the 2014 budget," he
"We will no longer be under special surveillance and we
will be able to have more flexibility than countries who have
not met this goal".
Last month the European Commission recommended closing the
procedure, which was opened in 2009.
Rome has forecast that Italy's deficit-GDP ratio will be
2.9% this year and coming in at 3% in 2012 after former premier
Mario Monti's emergency government passed big tax increases and
spending cuts.
But the austerity measures deepened the country's longest
recession in over 20 years and and did not stop the country's
public debt-to-GDP ratio climbing - it is forecast to hit 132%
this year.
The current administration has made stimulating growth and
job-creation a central focal point.

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