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The Italian government welcomes the decision of the US rating agency Standard & Poor's (S & P) to maintain the rating of Italy at BBB. "S & P has not changed rating and we think it's ok considering the economic stability of Italy," Saturday evening told Facebook Prime Minister Giuseppe Conte.
Standard & Poor's (S & P) lowered Friday's rating outlook for Italy to "negative" relative to the previously "stable" situation. In a next step, the euro-country is threatened with a deterioration in its solvency. The note itself initially stayed at "BBB", two levels above the spam status. Government plans have weighed on Italy's growth prospects, said S & P.
Prejudices against the budget plan
Italy is the seventh largest industrial country in the world, said Conte. The competitiveness of Italian companies is strong, as evidenced by the export. S & P's negative rating outlook was due to prejudices against the budget plan. However, Mr Conte was confident that financial markets and international institutions would soon seize the "positive aspects of our budget plans".
With the budget plan, the Italian government supports economic growth through deep investment and structural reforms. Italy is firmly rooted in the EU and has no plans to withdraw from the European Union or the eurozone, said Conté. "Italy's rating has remained stable at" BBB ", we continue to work and the rating agencies do not measure the prosperity of the citizens of a country," commented the Italian Deputy Prime Minister and five-star boss on Twitter.
The second Deputy Prime Minister and Minister of the Interior, Matteo Salvini, was not impressed either. "We will not change a comma in the finance law," said the president of the Lega on Friday about the warnings of Brussels. The Italian government's budget plan forecasts a deficit of 2.4% of GDP for the coming year, three times more than the 0.8% promised by the previous government. In 2020, the deficit is 2.1%. By 2021, it should reach 1.8%. With 131% of GDP, the country already has the second largest total debt in the eurozone towards Greece.
(APA)
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