January 16, 2014 / 4:56 PM / 4 years ago

Revisions to EU GDP will help public finance figures- EU source

BRUSSELS, Jan 16 (Reuters) - The upward revision of European Union gross domestic product to be adopted under new accounting rules in September this year will lead to a slight decline in ratios of budget deficits and public debt to GDP, a European Commission source said.

The source said the impact would be “at most a couple of percent for debt and fractions of a percent for deficit.”

Nonetheless, for a country like Italy, whose budget deficit has hovered around the EU’s 3 percent of GDP limit for the last two years, the impact may be important in enabling the country to stay inside EU rules.

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