Italy Confident of Complying With Europe Fiscal Rules, Tria Says
Italy Confident of Complying With Europe Fiscal Rules, Tria Says
(Bloomberg) -- Italian Finance Minister Giovanni Tria said the government will be able to comply with European fiscal rules amid the threat of possible disciplinary measures over the size of its public debt.
The country has begun talks with the European Commission, Tria said, as it works to show that this year’s budget deficit will be less than expected. Discussions have so far focused on how to measure some indicators, he said, without disclosing additional details.
“I’m sure that we can find a solution,” Tria told reporters at a G-20 meeting in Fukuoka, Japan. “We’ll try to demonstrate that our program will bring the Italian public finances into compliance with the European fiscal rules.”
Tria said this year’s budget deficit will be about 2.1% or 2.2% of gross domestic product, according to Ansa, echoing a prediction last week from Prime Minister Giuseppe Conte that cited higher tax revenue. The EC has forecast a 2.5% deficit, which contributed to it reprimanding the country over debt levels and taking the first steps toward financial penalties last week.
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To contact the reporters on this story: Jessica Shankleman in London at jshankleman@bloomberg.net;Sonia Sirletti in Milan at ssirletti@bloomberg.net
To contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net, Neil Denslow, Jon Menon
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