Martedì, 25 Settembre 2018

No supplementary budget, Tria confirms


Rome, July 13 - The Italian government will not
launch a supplementary budget this year, Economy Minister
Giovanni Tria confirmed Friday.
Speaking after an ECOFIN meeting, Tria said that "the centre
of the budget is reversing a trend to always increase the amount
of current-account spending to the detriment of investment
He said that increasing investments "would be the real
adjustment of the Italian budget".
"In the past Italy was granted a lot to boost investments,
but then they always fell despite the flexibility obtained," he
said, adding that "this is the centre of the question, I
believe, not 0.1% or 0.2%."
Tria added that that "we will discuss ways and schedules" for
debt reduction.
Italy needs a structural budget adjustment of 0.3% of GDP in
2018, the ECOFIN said.
This would be the equivalent of about five billion euros,
sources said.
This is because "there is a risk of significant deviation"
from the medium term objective (MTO) of balancing the budget, it
aid in its recommendations to members.
In 2019, the ECOFIN added, "given the debt above 60%", the
required adjustment will be 0.6%.

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