IMF applauds Italy’s steps to cut budget

WASHINGTON, May 26 (BestGrowthStock) – The International Monetary
Fund on Wednesday welcomed Italy’s commitment to reduce its
fiscal deficit and said containing the public wage bill should
be the focus of cost-cutting measures.

The IMF “strongly commended” measures adopted by Italy’s
cabinet late on Tuesday to cut the fiscal deficit to below 3
percent by 2012.

“The overarching policy goals now should be to maintain
fiscal discipline, reduce the burden of public debt, and raise
the economy’s long-term growth rate,” the IMF said in its
annual review of Italy’s economy.

Penny Stocks
(Reporting by Lesley Wroughton)

IMF applauds Italy’s steps to cut budget