Italy PM Monti says no need for additional budget
ROME (Reuters) - Outgoing Prime Minister Mario Monti dismissed suggestions that emergency budget measures could be needed to keep Italy's public finances in order, saying the government's balanced budget target would not be affected by worsening economic conditions.
Italy is aiming to achieve a balanced budget in structural or growth-adjusted terms in 2013 and would not be required to make allowance for an unexpected deterioration in its already dim growth prospects this year, he said.
"If the economic cycle is worse than expected, the European Commission takes account of this and it does not change the objective so it doesn't require an additional budget," he told RAI state television.
(Reporting By James Mackenzie)
- Tweet this
- Share this
- Digg this
- Pro-independence Scots narrow gap to victory ahead of vote - poll
- UK's fate in the balance as poll shows record support for Scottish independence
- Kremlin adviser says military strategy to reflect Ukraine crisis, NATO expansion - RIA
- Russian forces strengthening positions in Ukraine - Kiev military
- Europe drafts emergency energy plan with eye on Russia gas shut-down