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#Italy - Centeno optimistic that dialogue will show Italy's commitment to sound public finances

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Eurogroup President Mario Centeno starts the Eurogroup meeting

Eurogroup President Mário Centento presented the outcome of today's (6 November) discussion at the Eurogroup,  namely the Commission's opinion on Italy’s Draft Budgetary Plan (DBP) for 2019, issued on 23 October 2018. He said that there was agreement on the Commission's assessment.

Centeno emphasized the importance of sound public finances and their coordination within the framework of the Stability and Growth Pact (SGP) as a prerequisite for durable and sustainable economic growth and a smooth functioning of Economic and Monetary Union.

Centeno was optimistic that Italy and the Commission could have a constructive dialogue and that Italy would cooperate closely with the Commission in the preparation of a revised budgetary plan which is in line with the SGP. The deadline for the new budget is 13 November.

Centeno was optimistic that constructive dialogue would lead to Italy showing a commitment to sound public finances. He said that these assurances were needed by the European Commission and market participants.

Moscovici said that the Commission was looking forward to receiving a revised budgetary plan by 13 November. He said the Commission would be looking at three issues: is structural deficit reduced or erased; is public debt under control; and if the strategy is capable of creating growth.

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