Tuesday, 24 September 2019

Questions (83)

Michael Moynihan


83. Deputy Michael Moynihan asked the Minister for Finance if there was clarity or a decision taken following the June 2019 ECOFIN meeting regarding the intention of Italy to avoid falling into an EU disciplinary process. [28210/19]

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Written answers (Question to Finance)

At the ECOFIN meeting on 14th June the discussion on the European Commission’s assessment of the compliance of Member States with the Stability Growth Pact (SGP), specifically for Belgium, Cyprus, France and Italy, was deferred to a future meeting.

On 2nd July Italy wrote to the European Commission setting out its updated projections for the public finances in 2019, advising the Commission of the expenditure-control measures being introduced and the commitment for the new Italian 2019 fiscal policy and 2020 Draft Budgetary Plan (DBP) to achieve broad compliance with the SGP.

On 3rd July the European Commission noted that the Italian response was sufficient at this stage to avert the opening of an Excessive Deficit Procedure for Italy in respect of its 2018 outturn.

Further, the European Commission committed to closely monitor the implementation of Italy’s Budget for 2019 and to assess the compliance of its 2020 DBP with the fiscal rules when submitted.