Italy hikes debt targets for 2013, 2014

ROME, April 10 Wed Apr 10, 2013 7:07am EDT

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ROME, April 10 (Reuters) - Italy's caretaker government on Wednesday sharply hiked its targets for the public debt this year and next and said there was room for more expansionary fiscal policy.

An economic planning document (DEF) published by Mario Monti's outgoing technocrat cabinet forecast that the debt, which hit an all time high of 127 percent of output last year, would rise further to 130.4 percent in 2013.

That was an upward revision from 126.1 percent targeted previously. The governemnt hiked the 2014 debt target even more sharply, to 129.0 percent from 123.1 percent.