Italy’s budget does not contain measures able to boost growth and makes Rome a “risk of contagion” for the rest of the eurozone, according to a European Commission document leaked to the media. The report, due to be approved this week, is quoted as saying the budget would have negative effects on economic growth throughout the EU trading bloc.
Italy entered a recession at the end of 2018 and the commission has predicted growth this year of just 0.2 per cent, down from an earlier 1.2 per cent forecast. Passage of the budget in Italy was delayed this year, as EU officials threatened to sanction Italy for its anti-austerity budgeting.
Deputy Prime Minister Matteo Salvini said it was too early to say if the government would have to introduce a corrective budget later this year since “the government budget’s measures need time to have (positive) effects on the economy.”
[FULL STORY HERE]
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