September 5, 2018 / 11:02 AM / 2 months ago

Italy's Di Maio says 2019 budget will keep accounts in order

FILE PHOTO: Italian Deputy PM Luigi Di Maio speaks during a news conference in Cairo, Egypt August 29, 2018. REUTERS/Mohamed Abd El Ghany/File Photo

ROME (Reuters) - Deputy Italian Prime Minister Luigi Di Maio said on Wednesday the forthcoming 2019 budget would be “courageous”, but would nonetheless keep state accounts in order.

Investors have heavily sold off Italian bonds since the new government took office in June on concerns that the coalition may implement budget plans that would put the country’s already-huge debt pile under strain and breach EU fiscal rules.

After meeting key ministers, Di Maio said the budget would need to reassure the financial markets, but added that “above all” it needed to reassure hard-up Italian families and promised that there would be additional welfare for the unemployed.

Prime Minister Giuseppe Conte said in a subsequent statement: “We are working on the details to approve a budget that keeps (state) accounts in order and that allows the country to pursue a full revival on an economic-social level”.

Reporting by Giuseppe Fonte; Editing by Crispian Balmer

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