Italy tells EU it is sticking to budget plans, but keeping eye on debt,deficit

European Economic Commissioner Pierre Moscovici holds a joint news conference with Italy's Economy Minister Giovanni Tria at the Treasury ministry in Rome, Italy October 18, 2018. REUTERS/Max Rossi - Copyright MAX ROSSI(Reuters)

By Reuters

Published on 22/10/2018 - 13:04•Updated 16/04/2024 - 14:09

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ROME (Reuters) - The Italian Treasury told the European Commission on Monday that it would stick to its contested budget plans, but promised to intervene if it failed to meet its debt and deficit goals.

In a letter to the Commission, published on the Treasury website, Economy Minister Giovanni Tria said he recognised that the government's 2019 budget was not in line with the EU Stability and Growth Pact. However, he said the government had to take "hard but necessary decisions" to try to boost economic growth.