January 23, 2018 / 12:01 PM / a year ago

Next Italy govt must focus on constant and credible debt reduction - econ min

ROME, Jan 23 (Reuters) - Italian Economy Minister Pier Carlo Padoan said on Tuesday his country’s next government must focus on reducing one of the world’s largest debt burdens.

Padoan, who will stand for election to parliament with the ruling Democratic Party (PD) when Italians go to the polls on March 4, was addressing a televised news conference after a meeting of European Union finance ministers in Brussels.

“I think the emphasis in the coming years, in the next legislature, needs above all to be on a mechanism that guarantees a constant and credible fall in the debt,” he said.

There has been no reduction in Italy’s public debt, the second highest in the euro zone at 132 percent of economic output, under the current government led by the PD. (Reporting by Giuseppe Fonte, writing by Isla Binnie)

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