The government is seeking to
address an "unacceptable" lag in Italy's economic performance
that has left over 17 million people in hardship, Economy
Minister Giovanni Tria said Tuesday as he presented the DEF
economic blueprint in parliament.
Tria said there was "a lag in economic growth and employment,
a lag that is no longer acceptable, 10 years since (the start
of) the economic crisis".
He said that Italy's GDP was four points below the 2008 level
and regional gaps "have broadened" along with the number of
people in poverty.
The said the League/5-Star Movement (M5S) government has set
its sights on stoking growth to improve people's lives and at
the same time bringing down the debt-to-GDP ratio.
He said the government's budget plan was "courageous, but not
fearless and irresponsible".
The executive plans to let Italy's deficit rise to 2.4% of
GDP next year, saying an expansive budget will help GDP to
increase by 1.5% in 2019, 1.6% in 2020 and 1.4% in 2021, with
the help of new public investments and welfare spending.
Tria said the growth estimates were prudent and could be
surpassed.
The minister said he agreed with Lower House Speaker and M5S
member Roberto Fico's call for a lowering of the tone with
respect to the European Commission.
The Commission has criticised Italy's budget plans and sent
Rome a letter expressing concern that they could lead to a
breach of European rules, sparking angry reactions from some
ministers, led by deputy premiers Matteo Salvini and Luigi Di
Maio.
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