No infringement procedure gives confidence - Conte

Rome, July 10 - The European Commission's recent decision not to open an infringement procedure for breaking the debt rule boost Italy's confidence, Premier Giuseppe Conte said Wednesday. The infringement procedure was averted after the government passed a 7.6 billion euro supplementary budget. "The choice not to ask for the opening of the procedure gives confidence to the country," said Conte. The government's budget approach combined respect for fiscal limits with boosting growth, he added. He said the main objectives of the next budget were to reduce debt and the tax wedge. "The government's economic strategy is based on the progressive reduction of the public debt, a necessary condition for all growth prospects." He said the government planned "an organic reform of the tax system and a large reduction in the tax wedge."