The Italian budget for 2019n is
incompatible with the reduction of debt that at over 130% of GDP
is still a "crucial vulnerability," the European Commission told
Italy Tuesday.
In the letter, EC economic and financial affairs directorate
Director General Marco Buti writes that "Italian public debt
remains a crucial vulnerability".
Writing to Treasury Director-General Andrea Rivera, he says
"such a high public debt limits the government's room to
manoeuvre for more productive spending to benefit its citizens".
Buti also says the high debt remains a concern for the
eurozone.
He says the 2019 budget plan is incompatible with a debt
reduction.
The economy ministry said earlier it had received a new
letter from the European Commission asking for "a report
on the so-called 'significant factors' that may justify a
debt/GDP ratio with a less marked reduction than that
requested," the ministry said Tuesday.
It said "the reply must be sent by November 13".
A similar letter was sent in past years, the ministry said.
The reply "will be sent to Brussels respecting the deadline
indicated", it said.
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