Visco praises govt's 'gradual rebalancing' of accounts

(ANSA) - Rome, October 31 - Bank of Italy Governor Ignazio Visco on Friday praised the gradual approach that Premier Matteo Renzi's government has adopted to balancing the national budget.
    "The government opportunely decided to make the process of rebalancing the public accounts more gradual," Visco said. The Renzi budget received early European Union approvals this week after 4.5 billion euros in changes that would see the deficit-to-GDP ratio reduced by 0.3% rather than the planned 0.1% cut. However, the EU reportedly initially wanted deeper cuts of 0.5% in the structural deficit.