Berlusconi says Italy aims to balance budget by 2014

ROME: Italy will seek to bring its budget into balance by 2014, Prime Minister Silvio Berlusconi said on Wednesday, after the government revised down its growth forecasts for 2011-2013.

"We have to begin to reduce the deficit so that we can reach a zero deficit in 2014," Berlusconi told a news conference with Economy Minister Giulio Tremonti.

The economy ministry expects the deficit to fall to 3.9 percent of gross domestic product this year and 2.7 percent in 2012.