Italy plans to meet EU budget requirements

Note: This section contains information in English only.
Source: Bloomberg
Pier Paolo Baretta, Italy's Finance Ministry Undersecretary said on Friday that his country must do everything to meet EU budget requirements this year, leaving budget deficit under 3% of GDP. In April the government forecasted the deficit to reach 2.9% in 2013. Meanwhile, the government will need to cut spending or raise taxes by additional 1.5 billion euros to meet the EU 3% requirement.
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