MILAN (Reuters) – Italy must do its part to put the debt on a downward slope, but if the price dynamics would respect the objective of the ECB, Rome “would go on autopilot.”
This was stated by Minister of Economy Pier Carlo Padoan in an interview with ‘The Republic’, stressing that such low nominal growth is a problem more for the debt dynamics.
“Our surpuls structural net of interest, more reasonably be lower interest rates on debt and nominal growth above 2%, adding a little ‘real growth and a bit’ of inflation, would give clear results: the debt would be falling at speeds more than satisfactory, “said the minister. Emphasizes: “In any case we have to do our part to ensure that the path is descending.”
For Padoan the deterioration of the economic situation makes it more difficult to meet the goal of deficit reduction agreed at European level but the 3% limit will not be exceeded.
In this context, in the context of structural reforms, one of the pillars of the strategy of the government, the labor market “is crucial” – said Padoan – along with the reorganization conducive to growth, that will break down the tax burden of enterprises through spending cuts, and support for private investment.
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