Italy expected to answer to EU on draft budget today

italy (1)

Italy is to answer the European Commission’s doubts about its draft 2019 budget before noon on Monday. As a first step in the so-called ‘semester’ procedure, the commission last week described Italy’s draft budget as a “significant deviation” from EU fiscal rules. It would be the first time ever, if the commission rejected a member state’s national budget plan.

In the meantime the European Commission told France, Spain, Belgium, Portugal and Slovenia on Friday that their 2019 budget proposals did not meet recommended targets for cutting longer-term deficit cycles.

EU Observer / New Europe

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