The European Commission said
Wednesday that Italy was one of seven countries it was opening
of a deficit-based excessive deficit procedure against.
The others are Belgium, France, Hungary, Malta, Poland and
Slovakia.
Economy Minister Giancarlo Giorgetti had said the procedure was
to be expected with return of the EU budget rules that had been
suspended due to the COVID and Ukraine-war linked energy-price
crises after Italy posted a deficit of 7.2% last year.
The Commission said Italy's macroeconomic imbalances had eased
and were no longer excessive.
"Greece and Italy are now found to be experiencing imbalances
after experiencing excessive imbalances until last year as
vulnerabilities have declined but remain a concern. Fiscal
sustainability risks will be surveyed under the reformed fiscal
rules," the EU executive said.
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