EC OK to Italy's accounts, budget plan is credible

The European Commission on Tuesday
gave the thumbs up to Italy's budget plan saying it was
credible.

   
The EC said it believes that Italy's medium-term structural
budget plan (SBP) "satisfies the requirements" of the new
Stability Pact.

   
"It defines a credible fiscal path" to ensure that public debt
is placed on a credible downward path, said the commission.

   
The measures in the plan, for the community executive "satisfy
the requirements to justify an extension" to seven years.

   
For Brussels, Italy's Draft Budgetary Plan (DBP) is "in line
with the recommendations" thanks to a net expenditure projected
within the expected limits.

   

photo: Economy Minister Giancarlo Giorgetti

   

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