Martedì, 16 Ottobre 2018

Italy's deficit for 2013 to be 3%, says govt


Rome, September 6 - The Italian government said
Friday that it has revised its deficit-to-GDP ratio forecast for
this year up from 2.9% to 3%.
But the economy ministry stressed in a report, which was
attached to the government's decree rolling back the IMU
property tax, that the country was nevertheless on target to
stay within the 3% deficit threshold allowed by the European
The European Commission closed a procedure for excessive
deficit against Italy in May.
The decision to scrap IMU and replace it with a service tax
that will generate less revenue for the government caused the
revision in the deficit forecast.
The report also said that Italy's huge public debt of over
two trillion euros is set to rise further.
The ministry added that Italy will post negative growth of
more than the 1.3% of GDP forecast earlier this year in the
government's economic blueprint, the DEF.
But the report confirmed that Italy should emerge from its
longest recession in over two decades in the fourth quarter.

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