ROME (Reuters) – Italy’s 2020 draft budget does not imply a significant deviation from EU rules, the government said in a letter sent to the European Union Commission on Thursday.
Italy’s fiscal plan assumes a rise in the structural deficit, the measure excluding business cycle swings and one-off expenditure and revenue, of 0.1% of GDP. Under EU rules this deficit should fall 0.6% of GDP.
“The projected change in the structural balance in 2020 would not constitute a significant deviation”, Economy Minister Roberto Gualtieri said in response to EU letter asking for clarification over its budget for next year.
(Reporting by Giuseppe Fonte, editing by Jon Boyle)