Italy's Tria sees slight improvement in structural balance next year

  • Italy's finance minister said on Saturday he expected a small improvement in Italy's structural balance next year.
  • The comments offer partial reassurance to markets and European Union partners concerned the coalition government will ramp up spending.

Italy's finance minister said on Saturday he expected a small improvement in Italy's structural balance next year, offering partial reassurance to markets and European Union partners concerned the coalition government will ramp up spending.

Giovanni Tria told reporters after a meeting of EU finance ministers in Vienna that "obviously there will be an improvement" in the structural balance, which excludes one-off expenditures, although it was likely to be very small.

Giovanni Tria, Italy's finance minister, attends a swearing in ceremony at the Quirinale Palace in Rome, Italy, on Friday, June 1, 2018.
Giulio Napolitano | Bloomberg | Getty Images
Giovanni Tria, Italy's finance minister, attends a swearing in ceremony at the Quirinale Palace in Rome, Italy, on Friday, June 1, 2018.

EU rules require Italy to achieve a large improvement in its fiscal balance next year.

European Commission vice-president Valdis Dombrovskis said on Friday after meeting Tria that Italy was moving in the right direction with plans to cut its debt and improve its structural balance.