EU Commission To Decide On Next Steps Regarding Italy's Draft Budget On Tuesday -Spokesman

The European Commission will discuss Tuesday Italy's draft budget for 2019 and decide on the next steps regarding the procedure of its assessing, the commission's spokesman, Margaritis Schinas, said Monday.

BRUSSELS (UrduPoint News / Sputnik - 22nd October, 2018) The European Commission will discuss Tuesday Italy's draft budget for 2019 and decide on the next steps regarding the procedure of its assessing, the commission's spokesman, Margaritis Schinas, said Monday.

Last week, Italy submitted its draft budget for 2019 to the European Union. The new Italian government announced the 2.4-percent target for the budget deficit, which is much higher than the target set by the previous cabinet. On Thursday, European Commissioner for Economic and Financial Affairs Pierre Moscovici handed the commission's letter to Italian Finance Minister Giovanni Tria, expressing concern over the country's public debt.

"The commission received the draft budgets from all the participating countries and is assessing them at the moment.

An exchange of additional information with several countries is underway. I can confirm that the response of the Italian authorities has come, and tomorrow the board of European commissioners will discuss the procedure and determine the next steps," Schinas told a briefing.

Moscovici on Friday stressed that he would like to maintain "calm" dialogue between the European Union and Italy and to find a solution despite any disagreements.

The changes to the budget parameters proposed by the Italian government have faced harsh criticism by Brussels, with EU officials warning that the draft budget contradicted the EU key rules on debt reduction.