October 11, 2018 / 3:41 PM / a month ago

DBRS says important to see if Italy revises fiscal targets

FILE PHOTO: The Italian flag waves over the Quirinal Palace in Rome, Italy May 30, 2018. REUTERS/Tony Gentile/File Photo

MILAN (Reuters) - Ratings agency DBRS said on Thursday it was important to see if Italy’s negotiations with the European Commission over its budget plans leads to a revision of Rome’s fiscal targets.

In an interview with Reuters, Carlo Capuano, DBRS’s assistant vice president for global sovereign ratings, said it was “positive” the government had lowered its original deficit targets for 2020 and 2021.

He said that if achieved, the revisions “should keep the public debt on a declining trajectory, if everything else isn’t deteriorating, including economic growth and interest costs”.

“We think it is important to assess if potential negotiations between the European Commission and the Italian government will lead to a revision of the fiscal targets,” Capuano said.

Reporting by Giulio Piovaccari; Writing by Gavin Jones; Editing by Crispian Balmer

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