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Bank of Italy urges government to spell out privatisation plans
April 19, 2017 / 2:11 PM / 8 months ago

Bank of Italy urges government to spell out privatisation plans

ROME, April 19 (Reuters) - Italy’s government should spell out a programme of privatisations to clear uncertainty over the prospects for reducing public debt, the country’s central bank said on Wednesday.

In an economic plan issued this month the government rowed back on a previous commitment to sell public assets worth 0.5 percent of gross domestic product this year, saying it would now manage to garner revenue of just 0.3 percent.

Resistance to selling state assets has grown among the ruling parties ahead of national elections due in early 2018.

Luigi Federico Signorini, a member of the Bank of Italy’s executive board, told a parliamentary panel the government’s plan did not give much detail on what is to be privatised.

“To completely clear away uncertainty on whether the targets can be achieved it would be better to spell out the programme,” Signorini said.

The Italian economy is likely to grow by around 1 percent this year and over the next few years, in line with government forecasts, Signorini added. (Reporting by Giuseppe Fonte, writing by Gavin Jones; Editing by Crispian Balmer)

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