Italian Minister of Economy: The European Central Bank should further cut interest rates.

Jin10 data reported on October 3rd that Italy's Minister of Economy Giancarlo Giorgetti stated in the government's multi-year budget plan that the European Central Bank should resume interest rate cuts to revitalize the nearly stagnant Eurozone economy. He wrote in the budget document: “The overall stagnation of the European economy indicates that a more accommodative interest rate environment would be more desirable while complying with the European Central Bank's responsibilities.” The budget plan approved by the Italian Cabinet later on Thursday estimates that Italy's public debt interest expenditure will rise from 3.9% of GDP in 2025 and 2026 to 4.1% in 2027 and 4.3% in 2028, and the debt-to-GDP ratio target will rise from 134.9% in 2024 to 136.2% in 2025 and 137.4% in 2026.