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Ministry of Economy and FinanceEU Recommendations, Commission's approval of Italian Government's reforms
The Ministry of the Economy and Finance is confident that the budget objectives will be reached without any further corrective measures.

Press release N° 134 of 06/02/2014

The European Commission has today published the specific recommendations for the Member States of the European Union. The recommendations for Italy provide clear confirmation of, and support to, the reform programme inaugurated by the Government, and urge the country to make headway with the programme. The recommendations also reflect strong appreciation for the 2014 Reform Agenda contained in the National Reform Programme published in April, which defines the Government's strategy and commits the country to complying with the deadlines indicated in a precise and demanding time schedule. The Commission is in full agreement with the priorities laid out by the Government, starting from the full implementation of (i) the law delegating the Government to develop a more equitable, transparent and growth-oriented taxation system, and (ii) the delegated law known as the "Jobs Act".
In the near term, two important reforms are to be enacted with respect to the justice system and the public administration; such reforms are considered essential for creating an administrative and business environment more favourable to the nation's growth and capable of being once again attractive to foreign investors.
Since its formation, the Government has stressed the fundamental importance of building up the nation's human capital, through a modern, effective and digitised education system, where merit and value are key in the assessment of educational staff and facilities. The Youth Guarantee programme, and the measures to support education and work-school programmes are the focal point of Italy's strategy.
From a fiscal perspective, the Commission has confirmed that Italy remains among the countries having a deficit-to-GDP ratios below 3%. At the same time, the Commission has urged the country to monitor its structural deficit and the respect of the debt rule since additional corrective measures could be needed according to the Commission's estimates. Such estimates, however, do not take into account several items related to lower expenditure planned but not yet specified in detail, and higher revenue, such as the proceeds expected from privatisations.
The Government is strongly committed to pursuing growth-oriented fiscal consolidation and to ensuring debt sustainability is even stronger. The Government is confident that the measures planned will make it possible to achieve the objectives indicated in the Stability Programme, and confirms its commitment to introducing and implementing the structural reforms that the nation has been awaiting for a long time.
 

Rome 06/02/2014
IT

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