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Italy must pursue reforms to exit recession - economy minister
August 6, 2014 / 12:10 PM / 3 years ago

Italy must pursue reforms to exit recession - economy minister

ROME, Aug 6 (Reuters) - Italy’s Economy Minister Pier Carlo Padoan said on Wednesday the country can emerge from recession by continuing reforms and making its voice heard in the European Union, and he repeated there was no need for a supplementary budget this year.

Italy’s economy, the euro zone’s third-biggest, unexpectedly slipped back into recession in the second quarter, data showed earlier in the day.

“The way out is to continue the strategy of the government,” Padoan said in an interview with RAI state television, saying structural reforms, cutting red tape and increasing competitiveness was vital.

“There’s no supplementary budget around the corner. The government is closely watching public finances and with attentive spending controls there’s no need for a budget.” (Reporting by Steve Scherer)

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