Gold reserves are BoI's - Conte

(ANSA) - Rome, February 21 - Italy's gold reserves belong to the Bank of Italy and safeguard the national currency, Premier Giuseppe Conte said Thursday.
    Conte was replying to a question on a suggestion from Deputy Premier Matteo Salvini that the reserves might be used to bolster Italy's public finances.
    Earlier this month Interior Minister Salvini said that the Bank of Italy's gold reserves are "the property of the Italian people, not of anyone else".
    He was commenting following reports that the government was considering using the central bank's gold to avert a rise in value-added tax that is scheduled to kick in unless alternative sources of budget coverage can be found.
    The VAT hikes would take place if so-called 'safeguard clauses' are triggered.
    These would be triggered if unexpected budgetary needs arise, according to European Union economic rules laid down in the Stability and Growth Pact.
    Salvini said he must look into to the idea of using the Bank of Italy's gold reserves to "sterilise" the possible budget VAT hikes.