IMF will understand that Italy acted responsibly – Giorgetti – English

(ANSA) – ROME, OCT 11 – Experts at the International Monetary
Fund (IMF) will understand that the government acted in a
responsible manner in setting the macroeconomic framework for
its 2024 budget, Economy Minister Giancarlo Giorgetti said on
Wednesday after the financial agency invited Italy to be more
ambitious on reducing its significant public debt.

   
“It is legitimate for the Monetary Fund to extend this
invitation, after which, as I have already said and repeat, as
the experts also read the content of the NADEF (update to the
government’s DEF economic and financial blueprint, ed.) and,
even more so when they read the budget law, they will understand
that the Italian government has done things in a responsible and
serious manner,” said Giorgetti.

   
“I am very calm,” he continued, adding that Italy has “already
had the chance to exchange views during this year of
government”.

   
Giorgetti’s comments came after Vitor Gaspar, the IMF Director
of the Fiscal Affairs Department, on Wednesday called on Italy
to be more ambitious in efforts to bring down its public debt of
over 2,850 billion euros.

   
“Additional ambition is needed in terms of the adjustment of the
public finances,” said Gaspar at a press conference at the
agency’s annual meeting in Marrakech. “The public debt will come
down, but very slowly, and (remain) well over the pre-pandemic
level,” he added.

   
Gaspar said “two elements are crucial” in bringing down the
debt-to-GDP ratio: “reforms to increase growth potential” and
“more ambitious targets”. (ANSA).