January 21, 2021

Italy says it will not rectify its accounts despite Brussels' concern

Italy says it will not rectify its accounts despite Brussels' concern



The Italian Minister of Economic Development, Luigi Di Maio, advanced today that the Government "has no will to back down" in its expansive Budgets, to which the European Commission (EC) has expressed its "serious concern".

The Executive of the Five Star Movement and the far right League has presented some accounts for the next three years that foresee an increase in the deficit and public spending to finance and include in the Budget some of the measures promised in the campaign.

Specifically, its forecasts indicate that the deficit this year will be 1.8% of the Gross Domestic Product, while it will increase to 2.4% in 2019, 2.1% in 2020 and will return to 1.8% in 2021.

The European Commissioner for Economic Affairs, Pierre Moscovici, and the Vice President of the European Commission, Valdis Dombrovskis, on Friday night sent a letter to the Government to express their "serious concern" for "the significant deviation of the recommended line" on budget, according to the media.

In addition, they asked Rome to ensure that the draft of the Budgets, which should be examined in Brussels, "is in line with the common rules," and concluded the letter declaring open to "a constructive dialogue."

Di Maio, who was grateful that this warning reached a closed market, said that these accounts were "not liked in Brussels" and predicted that "now begins a phase of discussion with the European Commission", in a statement to the media in Rome.

Although he stressed that "there will be no going back" and that they have not even prepared a "Plan B".

"These accounts are not to challenge Brussels but must reward the Italian people who have suffered so many hardships," said the vice president of the Government.

Di Maio pointed out that in the next few days Economy Minister Giovanni Tria will start negotiations with Europe and that the president of the Chamber of Deputies, Roberto Fico, will go to Brussels to act as mediator.

"We will all be united and we will play a team game to explain to the EC that Italians need these measures, which are not propaganda but will ultimately change the lives of people," he predicted.

In an interview for the RAI public channel news, Minister Tria declared himself "optimistic" about the negotiations and said that he will explain "why we considered it necessary to move away from the path that had previously been agreed" by the previous center-left government in force until June.

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