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Rehn confident Italy will hit budget targets

European commissioner offers hope on flexibility clause

17 January, 17:08
Rehn confident Italy will hit budget targets (ANSA) - Rome, January 17 - European Economic and Monetary Affairs Commissioner Olli Rehn said Friday he was confident Italy will hit its budget targets.

He also offered hope that Rome will soon be able to use a clause in EU regulations that allows for greater flexibility in how certain stimulative spending measures are counted in budget-deficit calculations.

"I'm confident that Italy will hit its budget targets," Rehn said after meeting Italian Economy Minister Fabrizio Saccomanni.

"If Italy goes ahead with privatizations and a review of public spending, it will be possible to activate the investment clause and it would make sense". Rehn's comments contrast those he made late last year, when he heavily criticised Rome's 2014 budget law for not doing enough to cut Italy's massive debt of over two trillion euros and said the Italian government was ineligible for the investment clause.