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MNI BRIEF: Italy Needs Credible Path To Lower Debt Ratio-Visco

(MNI) ROME

The Bank of Italy chief has sounded a warning ahead of any plans for excessive spending by the new government.

Rising borrowing costs make it more pressing for Italy to “outline a realistic path” to reduce its ratio of debt to GDP, said Bank of Italy Governor Ignazio Visco, in comments which will be interpreted as a warning to new PM Giorgia Meloni as prepares new spending plans. (See MNI: Italy's Coalition Eyes Bigger 2023 Deficit Target-Sources)

A credible fiscal plan would ease funding costs and make it easier to achieve budgetary targets, the governor said in a speech, adding that the fiscal margin for packages to cap energy costs for households and businesses is “much more limited” than over the last two years.

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Rising borrowing costs make it more pressing for Italy to “outline a realistic path” to reduce its ratio of debt to GDP, said Bank of Italy Governor Ignazio Visco, in comments which will be interpreted as a warning to new PM Giorgia Meloni as prepares new spending plans. (See MNI: Italy's Coalition Eyes Bigger 2023 Deficit Target-Sources)

A credible fiscal plan would ease funding costs and make it easier to achieve budgetary targets, the governor said in a speech, adding that the fiscal margin for packages to cap energy costs for households and businesses is “much more limited” than over the last two years.

Keep reading...Show less