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Italy must do more to cut its deficit: EU's Rehn
November 7, 2012 / 1:16 PM / 5 years ago

Italy must do more to cut its deficit: EU's Rehn

BRUSSELS (Reuters) - Italy must work hard to bring its budget deficit down in 2014, the EU’s top economics official said on Wednesday, after warning Rome that it cannot depend on strong economic growth.

“It is important that Italy pursues its efforts of fiscal consolidation beyond 2013,” EU Economic and Monetary Affairs Commissioner Olli Rehn told a news conference after the European Commission released its 2012-2014 economic forecasts.

The Commission sees Italy’s budget deficit at 2.1 percent of economic output in 2013 and 2014, partly because Italian economic growth will likely underperform the rest of the euro zone in 2014. (Reporting by Robin Emmott; editing by Rex Merrifield)

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