Letta says Italy determined to keep finances in order

Confident EU will welcome his govt's efforts

Letta says Italy determined to keep finances in order

Rome, May 17 - Premier Enrico Letta said Friday that his government was determined to continue efforts to put Italy's public finances in order and said he was confident the European Union would recognise the efforts being made. "We want to keep the accounts in order and we believe that having the accounts in order is the basis to revive growth," Letta said as he illustrated measures adopted at a cabinet meeting. "I'm confident that the EU will welcome the efforts Italy is making to remain virtuous". Letta's government is hoping to convince the European Commission to end the excessive-deficit procedure it has against Italy this month or early in June. The government forecasts Italy's deficit-to-GDP ratio will be 2.9% this year, taking it under the 3% threshold permitted by the EU.

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