Italy to Meet EU Deficit-to-GDP Limit in 2013, Official Says
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Italy will keep its deficit within the European Union limit of 3 percent of gross domestic product this year, Finance Undersecretary Pier Paolo Baretta said.
“We’ll do whatever is needed to remain within the 3 percent limit,” Baretta said in a phone interview yesterday. The government may need to find an additional 1.5 billion euros ($2 billion) of savings to reach the EU requirement because of the sluggish economy and payments of overdue debts to companies, he said.