EC revises upwards Italy deficit

Nov 8, 2018 7:12 pm

In response to the revisions, Conte said the Commission was painting “unrealistic” scenarios on Italian public accounts.

The European Commission revised upwards its budget-deficit forecasts for Italy while revising downwards its growth forecasts.

In its new autumn forecasts, the EC revised its forecasts for Italy’s budget deficit to 2.9% of GDP in 2019 and 3.1% in 2020.

The italian government must reply by November 13 to the EC’s letter asking for a revised package due to an “unprecedented” deviation from the Stability and Growth Pact.

In response to the revisions, Premier Giuseppe Conte said the Commission was painting “unrealistic” scenarios on Italian public accounts.

The EC forecasts, he said “underestimate the positive impact of our budget and our structural reforms,” he said.

“There are no premises to call into question the soundness and sustainability of our forecasts.

 

Source URL: http://eurasiatx.com/ec-revises-upwards-italy-deficit/