Brussels

Rehn says Italy's debt provisions 'very likely to be lifted'

Country meeting terms of Stability and Growth Pact, data shows

Rehn says Italy's debt provisions 'very likely to be lifted'

Brussels, April 10 - European Economic Affairs Commissioner Olli Rehn on Wednesday said it was "very probable" that Italy will exit the excessive-deficit provisions under the European Union's Stability and Growth Pact once data had been reviewed by Eurostat on April 22. Under the pact, countries are required to keep their deficit under the threshold of 3% of gross domestic product (GDP). On Friday Italian statistics agency Istat said the country's deficit-to-GDP ratio fell 0.7% to 3.0% in 2012. The government said Wednesday that Italy's deficit for 2013 should be 2.9% of GDP, after the cabinet approved its economic blueprint for the year, the DEF.

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