Italy needs 'large, sustained fiscal adjustment' - OECD

(ANSA) - ROME, MAY 2 - The OECD said in its spring Economic Outlook report on Thursday that major effort is needed to bring down Italy's deficit in the coming years.
    "The government deficit will narrow but remain above 3% until 2025, the public debt ratio is high and there are substantial spending pressures from investment needs and ageing costs," the Paris-based body said.
    "A large and sustained fiscal adjustment will be required over several years to meet future spending pressures, while putting the debt ratio on a more prudent path and complying with the new EU fiscal rules.
    "The adjustment should include decisive action to tackle tax evasion, limiting the growth of pension spending and conducting ambitious spending reviews". (ANSA).