ROME, March 12 Italian Prime Minister Matteo
Renzi said on Wednesday that European Union will appreciate
Italy's efforts to spur economic growth and create jobs with tax
cuts while he again vowed to respect the area's budget deficit
"We will respect all the European limits," Renzi said
referring to the annual 3 percent of output deficit ceiling
after announcing income- and business-tax cuts by the beginning
Renzi said that Italy, which has forecast a deficit
equalling 2.5 percent of output this year, would be able to
spend more than originally planned because there is room for
expenditure without exceeding the deficit ceiling.
The EU "will appreciate our reform efforts," he said.