EU Commission: Italy's draft 2019 budget would not ensure debt reduction envisaged by EU rules

Reuters recently reported the below-seen highlights from the EU Commission's letter to the Italian government on its budget proposal.

• EU Commission tells Italy its 2019 draft budget points to a particularly serious non-compliance with EU budget rules.
• EU Commission asks Italy to respond to its concerns by Monday, October 22.
• EU Commission says Italy's government spending growth planned for next year is 2.7 pct, while max allowed under rules is 0.1 pct.
• EU Commission says Italy's structural deficit in 2019 would deepen by 0.8 pct of GDP while EU ministers had asked for it to be cut by 0.6 pct/GDP.
• EU Commission says Italy's draft 2019 budget would not ensure debt reduction envisaged by EU rules.