Last week, Italy's anti-austerity government cut its 2019 growth forecast and predicted another rise in debt levels.
Italy's Deputy Prime Minister Luigi Di Maio, told CNBC his country will not change course despite fears of ballooning debt and struggling growth.
After the announcement, the European Commissioner for Economic and Financial affairs, Pierre Moscovici, said"We could again have problems with Italy." The 32-year-old said Italy's attempts to improve its economy had to be looked at in the context of the ongoing trade dispute between the United States and China as well as Britain's drawn out exit from the European Union.
To meet its deficit targets in 2020 and 2021, the Italian government agreed with the European Commission in December that it would raise value-added tax , or find other means to generate the cash. "We'll find a balanced solution and we'll form a fiscal system considering our budget constraint," he told CNBC's Joummana Bercetche at the IMF's Spring Meetings in Washington, D.C.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EU parliament head says Europe divided over LibyaFrance and Italy are divided over policy toward Libya despite the official posit...
Read more »
Buying a $1 Italy dream house just got easierWant to buy a home in Italy for one euro (about $1)? The towns of Zungoli and Mussomeli make the process easier with their websites: www.comunezungoli.it and www.case1euro.it
Read more »
U.S. looking 'very closely' at Qatar-Air Italy deal: PompeoThe United States is scrutinizing state-owned Qatar Airways' acquisition of...
Read more »
Italy says military intervention 'cannot be a solution' in LibyaItaly's prime minister has said any foreign military intervention in Libya ...
Read more »
18 'Italian' Foods That Actual Italians Never Eat18 American 'Italian' Foods They Definitely Don't Eat In Italy
Read more »
18 'Italian' Foods Served In America That Send Chills Throughout Italy18 “Italian” Foods Served In America That Send Chills Throughout Italy
Read more »
8 US servicemen killed during World War II honored in Italy on 75th anniversarySeventy-five years after eight U.S. servicemen were killed during World War II, local Italian and foreign residents came together to honor them.
Read more »
Italy, France spar over tackling escalating conflict in LibyaFrance and Italy wrangled on Thursday over how best to tackle renewed conflict i...
Read more »