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Visco against austerity budgets to cut debt

Bank of Italy governor calls for focus on growth

25 March, 16:15
Visco against austerity budgets to cut debt

(ANSA) - Rome, March 25 - Bank of Italy Governor Ignazio Visco said Tuesday that boosting economic growth should be the main tool for cutting the country's massive public debt rather than austerity budgets. "It's necessary to focus on the growth of the real economy, and therefore a recovery of investments," he said. "In this way corrective budgets of 40 to 50 billion euros a year (of fiscal adjustment) would not be necessary".

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