New EU letter on debt, reply by 13/11

Budget incompatible with debt reduction says EC

(ANSA) - Rome, October 30 - The economy ministry has 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.
    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.
   

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