Martedì, 23 Ottobre 2018

Letta reassures Europe over budget commitments


Rome, September 13 - Premier Enrico Letta
reiterated on Friday that Italy would respect its commitment to
keep its deficit-to-GDP ratio within the 3% threshold allowed by
the European Union.
Letta gave the reassurance after the European Central Bank
(ECB) said Thursday there was a risk Italy would not achieve its
deficit target for this year.
"The conditions are right for us not to go over 3%," Letta
said. "We'll keep the budget under 3%".
The ECB said in its monthly bulletin Thursday that moves to
pay public-sector debts to private companies and the
rolling-back of the IMU property tax could affect Rome's ability
to hit its budget target.
The European Commission closed an excessive-deficit
procedure against Italy in May after its deficit came in at 3%
last year and the government said it would be 2.9% this year.
Last week the Italian government said in a report that it
had revised its deficit-to-GDP ratio forecast for this year up
from 2.9% to 3% following the decision to scrap IMU.
Economy Minister Fabrizio Saccomanni also said Friday that
respect of the 3% threshold was "not in question".

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