Italy's Renzi rules out corrective budget, pension cuts

Italy's Prime Minister Matteo Renzi meets with Iraq's Prime Minister-designate Haider al-Abadi in Baghdad August 20, 2014. REUTERS/Mahmoud Raouf Mahmoud

ROME (Reuters) - Italian Prime Minister Matteo Renzi denied on Thursday that his government planned to raise taxes, cut pensions or adopt corrective measures to rein in the budget deficit this year.

There have been repeated media reports this summer that the government will need to pass a mini-budget to hold the deficit inside European Union limits after the economy unexpectedly slipped back into recession.