Italy PM Welcomes S&P Move to Maintain Rating, Lower Outlook

Italian Prime Minister Giuseppe Conte. Credit: Presidenza del Consiglio dei Ministri

(From AP News)

Premier Giuseppe Conte said Saturday the decision by the [Standard & Poor’] ratings agency was “correct in light of the economic solidity of the country,” citing the competitiveness of Italian businesses and the high level of Italian private savings.

Italy escaped another downgrade in the Standard & Poor’s decision, but the rating’s agency noted that the populist government’s policies are “weighing on the country’s economic growth prospects, a critical driver of government debt-to-GDP trajectory.”

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