Rome

15.7 billion euros ready for part of government debt payment

Finance minister says 'acceleration' of payments possible

15.7 billion euros ready for part of government debt payment

Rome, July 22 – The Italian government has almost 15.7 billion euros available for paying off its part of its outstanding bills, Economy Minister Fabrizio Saccomanni said Monday. And it hopes that by September it will outline a complete plan for reaching the committed amount of 20 billion for 2013, he added during a news conference. Data will be updated every two weeks, the minister promised. The government has pledged to pay 40 billion euros over this year and next for debts owed to businesses. Payments of more debt may even be possible earlier than expected, added Saccomanni. In fact, "a significant acceleration" is possible, he said. (photo: Economy Minister Fabrizio Saccomanni)

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