October 12, 2018 / 6:16 AM / 6 days ago

Italy needs to respect EU budget rules and build up cash buffer -IMF

NUSA DUA, Indonesia, Oct 12 (Reuters) - Italy needs to respect European Union budget rules with its 2019 budget and build a cash buffer to cushion the next economic downturn, the head of the International Monetary Fund’s European department Poul Thomsen said on Friday.

“We do think that a fiscal relaxation of that magnitude in Italy in the current circumstances is not correct,” he told reporters at the IMF’s annual meetings.

“It is important that Italy has a 2019 budget that is consistent with the European fiscal framework.” (Reporting By Francesco Canepa)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below