About the Minister Carlo Calenda, come three months after Rome had been granted some leeway “ unprecedented ” on its 2016 budget and that the European Commission had directed him to tighten fiscal policy next year.
The minister was speaking following the publication by Eurostat of a note showing that the Italian economy has failed to develop between the first and second quarter of this year.
Analysts expect the government will now have to revise down its 1.2% growth forecast for this year and 1.4% in 2017, with a ripple effect on its plans reducing the budget deficit.
“ The Treasury will present an update of the figures in September. I can not hide that the room for maneuver is tight ,” said Mr. Calenda to everyday Turin La Stampa.
“ We are now discussing with Europe how to address the critical need to boost public and private investment .”
The Minister acknowledged implicitly that might mean a 2017 budget deficit higher than previously forecast, up to 3% ceiling limit set by EU rules.
The Commission has set Italy a fiscal deficit target of 1.8% for 2017, arguing that such adjustment is required to reverse the upward trend of the huge debt countries reached 2.250 billion euros in June.
“ We intend to respect the rules, but we are also fighting to change “, continued the Minister for that “ the limit is impassable the debt, which can not increase . ”
“ We’ve got a lot of flexibility and we intend to ask for more, the maximum possible, but always within the rules “, he added.
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