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Italian minister: Our efforts are greatest in Europe

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Staff Writer | September 24, 2016
Reductions in public spending aimed at cutting Italy's huge debt have hit the country's economic growth.
Pier Carlo Padoan
Italian economy   Economy hit by reductions in public spending
The government is now working on removing structural obstacles

to development, Italian Economy Minister Pier Carlo Padoan said. "The efforts to consolidate public finances sustained by Italian citizens are greater than those of any other euro zone country," Padoan told the Corriere della Sera daily.

Progressive consolidation is a necessity for a country with such a high debt as Italy, but such an accelerated contraction of public spending has penalised Italian growth compared to other economies," he said.

For this reason, the government's reform programme is removing structural obstacles to development which have built up over what he described as "20 years of substantial inertia".


 

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