Mercoledì, 17 Ottobre 2018

Rehn 'trusts' Italy to meet deficit target


Brussels, September 13 - European Economic and
Monetary Affairs Commissioner Olli Rehn said Friday the European
commission was "confident" that the Italian government
would respect its commitment to keep its deficit-to-GDP ratio
at or under 3%.
He noted that Premier Enrico Letta and Economy Minister
Fabrizio Saccomanni had repeatedly pledged to meet the target.
"We trust Italy to keep that commitment," he said.
Rehn reiterated that the eurozone economy was at a "turning
point" but the crisis "is not over".
Rehn's statement came a day after the European Central Bank
said there was a risk Italy would not achieve its deficit target
for this year.
The ECB said in its monthly bulletin 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 keep
the deficit-GDP ratio at or under 3%.
The central bank also mentioned the decision to postpone a
planned 1% rise in the top band of value-added tax (VAT), a hike
Premier Enrico Letta's government is hoping to avoid completely.
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 revised its deficit-to-GDP
ratio forecast for this year up from 2.9% to 3% following the
decision to scrap IMU.
The EU does not allow member States to have a deficit of
over 3%.

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