OECD says Italy well-served by 3% deficit goal
Deficit ratio to GDP good for all Europe, says Gurria01 October, 17:02
(see related) (ANSA) - Strasbourg, October 1 - The European Union's decision to set a 3% deficit-to-GDP ratio for member countries is in Italy's best interests, the head of the Organization for Economic Cooperation and Development said Tuesday.
That figure is not "dogma," added Angel Gurria, but so far has served everyone well.
And Italy "is very close" to meeting that goal, said the secretary-general of the OECD.
"The threshold of 3% is used as a reference point and was chosen because it is sustainable and allows the resumption of growth," said Gurria.
Earlier, Gurria criticized the Italian government's decision to give in to ex-premier Silvio Berlusconi and scrap property tax IMU instead of lowering taxes on wages and investments which he said would do more for economic growth.
Italy is struggling to meet the 3% ratio.