Italy's PM Conte sees no room to change 2019 budget plan

Updated: Wed, Oct 17, 2018
11:00 pm
Reuters
RELATED NEWS
'S African companies enquiring about new areas of collaboration in India' 'S African companies enquiring about new areas of collaboration in India'
Cars with WiFi: BMW, Vodafone, Ericsson urge EU to consider 5G car standard Cars with WiFi: BMW, Vodafone, Ericsson urge EU to consider 5G car standard
South Korean firms to plead guilty to rigging U.S. military fuel bids South Korean firms to plead guilty to rigging U.S. military fuel bids
Nickle futures remain weak on muted spot demand Nickle futures remain weak on muted spot demand

Italian Prime Minister Giuseppe Conte said on Wednesday he believed there was no room for changing the Italian draft budget for 2019, which the European Union worries would breach the bloc`s fiscal rules and increase Italy`s debt.

"We have prepared (the budget) very carefully. Therefore I think there is no room for change," Conte told reporters on arriving to talks with his fellow EU leaders in Brussels.

"I am confident we can have a constructive dialogue," he said, referring to the bloc`s executive European Commission, which is monitors fiscal policies of euro zone states. It has legal powers to ask Italy to revise its draft budget.

"For sure, we will receive comments (...) and will address them," Conte added. Under EU fiscal rules, the Commission has time until Monday to formally raise concerns with Rome. It could then reject the budgetary plan by Oct.29.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

By continuing to use the site, you agree to the use of cookies. You can find out more by clicking this link

Close