Economy ministry vows to tackle high labor, income taxes
'Govt will spur competitiveness'05 March, 16:20
The Treasury also responded to concerns about rising public debt. According to the European Commission, Italy's debt as a percentage of gross domestic product will increase to 133.7% this year but then begin to fall as economic growth improves.
"The evolution of public debt in relation to GDP comes mainly from the denominator of the equation, that is, from modest growth in the years preceding the crisis (followed by) a deep recession," said the economy ministry. (photo: Economy Minister Carlo Padoan)