3.9 C
New York
Friday, March 31, 2023

Too early to discuss corrective budget: Italy’s economy minister

Too early to discuss corrective budget: Italy's economy minister© Reuters. Italian Economy Minister Tria attends a eurozone finance ministers meeting in Brussels

ROME (Reuters) – Italian Economy Minister Giovanni Tria said on Wednesday it was too early to say whether the government would have to introduce a corrective budget later this year following worse-than-expected economic data.

Addressing parliament, Tria said he believed that some 2 billion euros put aside in the 2019 budget for reserve spending should be enough to cover any eventual shortfall.

Italy fell into recession at the end of 2018 and the European Commission has predicted that growth this year will be just 0.2 percent against a 1.2 percent forecast it made last November. This unexpected slowdown could make it hard for the government to meet is deficit target of 2.04 percent of gross domestic product.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source: Investing.com

Related Articles

Stay Connected

- Advertisement -

Latest Articles

Popular Articles