The EU's request for a
further 0.2% cut in Italy's deficit-to-GDP ratio hasn't changed
due to better-than-expected quarterly GDP data, EU sources said
Thursday, stressing that annual date was needed. The extra 0.2%
"is needed to bring Italy inside the tolerated deviation margin
for the structural effort recommended by the Council for 2017,"
they said. Italy was recently said to have posted 0.9% growth
last year instead of the previously forecast 0.8%. It is
forecast to see 0.9% growth this year, the same as in earlier
forecasts. The government is currently striving to find spending
cuts and revenue hikes to make the extra adjustment to avert an
infringement procedure.
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