October 3, 2018 / 9:40 AM / 2 months ago

Italy's Di Maio says no current plans for automatic stabiliser in budget

ROME, Oct 3 (Reuters) - Italian Deputy Prime Minister Luigi Di Maio said on Wednesday that the government had no plans to insert in its budget an automatic mechanism to lower the deficit if growth fails to live up to targets.

Economy Minister Giovanni Tria said over the weekend that there would be an automatic stabiliser in the budget that would cut spending should growth be lower than forecasts.

“We don’t current have plans for an automatic stabiliser,” Di Maio told reporters in parliament. He added that spending could be cut later should growth turn out to be lower than expected. (Reporting by Steve Scherer, editing by Giulia Segreti)

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