MOSCOW (Sputnik) — A review of country's public spending that began in 2014 may help to save almost 90 billion euros through 2016-2018, with cuts focusing on public procurement and healthcare, Spending Review Commissioner Yoram Gutgeld said in a presentation at the Italian parliament, as cited by Financial Times.
Italian Prime Minister Paolo Gentiloni said following Gutgeld's presentation that the government's goal is budgetary efficiency, rather than cuts.
"If we really want to accompany the recovery which is showing positive signs in our country, we have to continue with this work,” he said as quoted by the newspaper.
The Italian annual budget is scheduled to be published in October, and EU authorities will closely watch country's spending policy. Earlier, the International Monetary Fund (IMF) praised Italy's public spending cuts, but demanded further steps.
The review of Italy's budgetary spending was launched by former prime minister Matteo Renzi, to whom Gutgeld has advised.
