Italy seeks to re­as­sure US over spend­ing plans

Malta Independent - - World -

Italy’s econ­omy min­is­ter has met with the U.S. Trea­sury Sec­re­tary to re­as­sure in­ter­na­tional part­ners about Italy’s deficit-bust­ing spend­ing plans, which have spread worry through mar­kets and EU in­sti­tu­tions. The Eco­nom­ics Min­istry said in a state­ment Fri­day that Gio­vanni Tria told his U.S. coun­ter­part, Steven Mnuchin, dur­ing a meet­ing in Bali that the aim of the 2019 bud­get is “to re­in­force growth in the Ital­ian econ­omy.” The state­ment said Tria also “un­der­lined the de­ter­mi­na­tion to fol­low a path to re­duce the debt-to-GDP ra­tio, and he con­firmed the in­ten­tion to con­tinue con­struc­tive di­a­logue with the EU com­mis­sion and eu­ro­zone coun­tries.” Italy’s plans to boost spend­ing to sat­isfy cam­paign prom­ises, nudg­ing the deficit to 2.4 per­cent of GDP, has cre­ated con­cern that the eu­ro­zone’s third-largest econ­omy won’t be able to bring down its high debt.

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