October 23, 2012 / 1:26 PM / 5 years ago

Italy central bank says more austerity may be wise in spring

ROME, Oct 23 (Reuters) - Italy may need to adopt further austerity measures early next year to ensure that it meets its public finance objectives from 2014, the country’s central bank said on Tuesday.

Bank of Italy board member Salavatore Rossi said in testimony to parliament that under the government’s latest budget plan Italy would not run a structurally balanced budget after next year.

For this reason, Rossi said it may be “prudent” to adopt further spending cuts in the spring, so long as the economy shows sogns of recovery as is currently expected.

Reporting By Gavin Jones

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