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Italy’s Tria says budget will not change, debt to fall

Italy's Tria says budget will not change, debt to fall© Reuters. FILE PHOTO – Italian Economy Minister Giovanni Tria speaks during Assolombarda meeting at La Scala theater in Milan

BRUSSELS (Reuters) – Italy’s Finance Minister Giovanni Tria said on Monday the country’s budget for next year will not change despite calls from EU peers and the EU Commission to amend it so that it would be in line with European Union laws.

The budget “will not change but we are discussing” it with the EU Commission, Tria told reporters after a meeting of euro zone finance ministers during which he was asked to change the expansionary budget.

Tria also said he forecast the Italian debt to fall with the current budget which increases the country’s deficit. The Commission believes that Italy’s large debt will rise if budgetary plans are not revised.

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Source: Investing.com

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