Rome

Spending review saved 30 bn since 2014 - Gutgeld

Funding freed up to cut taxes, improve public finances

Spending review saved 30 bn since 2014 - Gutgeld

Rome, June 20 - Spending Review Extraordinary Commissioner Yoram Gutgeld said Tuesday that the process had generated 29.9 billion euros in expenditure savings in the 2014-2017 period. Presenting his annual report, Gutgeld said the civil service contributed with a 24% net reduction in personnel costs. He added that the savings had contributed to reducing the tax-to-GDP ratio, improving the state of the public finances and funding essential public services.

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