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The rating agency Moody's downgraded the rating of Italy. The reason is the higher budget deficit
23:58, 19 October 2018
Bad news for our neighboring country: Moody's lowered the rating of Italy. The long-term commitments would now be rated "Baa3" after the previous "Baa2", announced the credit guards. Thus, the rating is just one step above the spam status. The rating perspective was "stable". It threatens at least not to downgrade anymore.
The reason is that the government in Rome, a higher budget deficit in the coming years, as previously predicted by the rating agency Moody's.
Budget dispute with the European Commission
Italy is preparing for a confrontation in the budget dispute with the European Commission. In order to finance costly socio-political election promises, the right-wing Lega government and the five-star movement are planning new, much higher debts in 2019 than those promised by the previous government. The heavily indebted country's budget deficit is expected to account for 2.4% of gross domestic product (GDP), three times more than initially forecast.
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