Italy must quickly pass budget measures- govt source
ROME, May 7 (Reuters) - Italy needs to quickly approve a package of budget cuts to meet its deficit targets for the coming years and some measures may even take effect before the end of 2010, a government source said on Friday.
The source said that a planned tax reform -- a "priority" for Prime Minister Silvio Berlusconi's government -- would not lower tax revenues and could even increase them slightly.
"We are relaxed about 2010, but cost cutting is important to ensure medium-term sustainability," the source said. "It should take affect in 2011-2012 but there could be some effect in 2010."
From 5.3 percent last year, Italy's centre-right government aims to reduce its deficit to 5.0 percent in 2010, 3.9 percent next year and 2.7 percent by 2012. (Reporting by Luca Trogni) ((
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Keywords: ITALY BUDGET/
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