And the Cutting Continues Italy’s 2014 budget at risk

ROME (Reuters) – Italian Prime Minister Enrico Letta said on Monday he was confident the country can reduce its deficit in 2014 due to a program of privatizations and a spending review.

Last week the European Union warned Italy’s draft budget for 2014 was at the risk of breaching its rules, saying it did not go far enough in cutting debt.

The government has committed to sell state assets amounting to half a point of GDP per year between 2014 and 2017.

(Reporting by Naomi O’Leary, editing by Gavin Jones)

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