Rome

Mustn't jeopardize debt reduction - Tria (3)

Budget consolidation necessary says economy minister

Mustn't jeopardize debt reduction - Tria (3)

Rome, June 19 - Economy Minister Giovanni Tria said Tuesday that the new government must not pursue policies that would jeopardize progress towards reducing Italy's big public debt. The minister said Italy's economic recovery was "continuing, but at a more limited pace than in 2017" as he reported to the Lower House as it debated the DEF economic blueprint. He said the DEF forecast the deficit-to-GDP ratio would be 0.8% in 2019, with the budget being balanced by 2020 and the debt embarking on "clear downward path - a development that it would be good not to jeopardize". He added that: "fiscal consolidation is a necessary condition to keep the confidence of the markets". He also stressed, however, that "our action in Europe must be directed towards a profound reform of the economic institutions" bemoaning "the serious inadequacies that characterise the current European institutional equilibrium".

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