Brussels awaits for Italy’s review of its budget figures

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The E.U. is waiting for further details regarding Italy’s draft budget for 2019.

As it stands it is in breach of Brussels’ rules and the E.U. commissioner for economic affairs, Pierre Moscovici, has pointed out that, “we need commitments that have to be credible,” adding, “we are not disputing the pension reform, the choice is for the Italian government because it is up to the Italian government to make its own policy choices.”

Italy’s draft budget is targeting higher spending on welfare, plans a deficit level of 2.4% of gross domestic product next year, tripling what the previous government had in mind..

This of course drew frowns from Brussels, who argued that while the planned deficit does not exceed the E.U.’s 3% ceiling, the difference between the previous  government’s figures of 1.8% and the current proposal of 2.4% had never happened in the history of E.U. budget rules.







Source: Smart Trend Team