The minister added that the country was on track to hit the GDP target growth of 1 per cent this year.
“We do not need a blood-and-tears budget,” Giorgetti told the assembly of Italian banking association ABI.
“We need a serious policy of public spending control in order for Italy to emerge from its condition of being a country always under scrutiny
“This is a goal that can be achieved with determination,” he continued.
Giorgetti said the success of the BTP Valore bonds the government has issued showed “how our country has already seen its efforts recognised by Italian and foreign investors”.
The European Commission said last month that Italy was one of seven countries it was opening of an excessive deficit procedure against after it posted a deficit of 7.2 per cent last year.
Giorgetti had said the procedure was to be expected with the return of the EU budget rules that had been suspended due to the COVID and Ukraine-war linked energy-price crises.
On Tuesday the minister also said that “the GDP growth target of 1 per cent for 2024 set out in the DEF [economic blueprint] is within our reach”.
ANSA
