Rome

Italy may need corrective budget measures, says OECD

Ending excessive-deficit procedure 'fundamental'

Italy may need corrective budget measures, says OECD

(see related story on OECD forecasts) Rome, May 2 - Italy will need to introduce corrective budget measures if it fails to get its deficit-to-GDP ratio below 3%, the OECD said on Thursday. The OECD forecast in a report that Italy will have a deficit of 3.3% of GDP, above the 2.9% forecast by the Italian government. Rome is hoping this month to convince the European Commission that it has got the deficit below the 3% threshold allowed by the EU so that it ends the excessive-deficit procedure against the recession-hit country. "It will be necessary to do something (if the deficit is over 3%)," OECD Chief Economist Pier Carlo Padoan said. "Coming out of the infraction procedure is fundamental". The OECD also forecast on Thursday that Italy's massive public debt will rise to 134% of GDP next year. The report said reducing this was a priority because otherwise the country would "remain exposed to sudden changes in the mood of the financial markets".

Lascia il tuo commento

Condividi le tue opinioni su Gazzetta del Sud online

Caratteri rimanenti: 400

Le altre notizie

i più letti di oggi

Domani i funerali di Marta Danisi

Oggi i funerali di Marta Danisi

di Rosario Pasciuto