UPDATE 1-Italy's Tria says IMF policies pose risk, defends deficit-spending


Reuters | Updated: 21-01-2019 23:49 IST | Created: 21-01-2019 23:49 IST
UPDATE 1-Italy's Tria says IMF policies pose risk, defends deficit-spending

Italy's economy minister Giovanni Tria said on Monday the economic policies recommended by the International Monetary Fund posed a risk to the global economy and that his own government's approach was not risky.

Asked about an IMF report that said Italy was one of the risks for the global economy, together with China and Brexit, Tria told reporters: "The fourth risk (is) the policies recommended by the IMF." "Italy does not pose a risk for the European and the global economy," he said, insisting that deficit spending was the right policy to pursue in the current economic cycle.

Rome is targeting a 2 percent deficit this year, mostly to boost welfare and pension expenditures. Tria excluded that Italy may consider at this stage additional budget measures for this year to counter the expected slowdown of the economy. (Reporting by Francesco Guarascio; Editing by Catherine Evans)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Give Feedback