PARIS – The European economics commissioner Pierre Moscovici said on Thursday the European Union and Italy were working constructively, but the new Italian budget would need improvements in order to adhere to the bloc’s standards.
Moscovici said on Thursday that while progress had been made on the new Italian budget, Giuseppe Conte’s government had submitted there was still work to do to bring it in line with the EU’s stability pact conditions.
“We have engaged in a constructive dialogue with the Italian authorities,” Moscovici tweeted. “We are looking for ways to make political choices compatible with common rules, which are the same for all.”
The first budget the Italian government submitted for the next three years included a deficit target equivalent to 2.4 percent of Italy’s GDP, contravening European rules.
The reviewed budget offered a marginally smaller deficit of 2.04 percent, but still failed to meet EU regulations.