Italy will close 2011 with a deficit of 4% and a debt of 120,3% of GDP, while next year these same numbers will drop to 3,2 and 119,8% respectively. This is the forecast for our country contained in the European Commission's 2011 Public Finance Report.
The goal remains that of returning to the Maastricht parameters by bringing the debt back to 60%. A commitment that will require a "significant" correction over the next 20 years, but still less than that required of other countries such as Ireland, Greece, Great Britain, Spain and France. “A significant consolidation effort – reads the report – exceeding 5 percentage points of GDP would be necessary for Italy, the Netherlands, Hungary, Austria and Belgium”. The average effort required of all EU countries is 5,3%.
