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Addis Abeba

Conte rules out major budget changes

EC has expressed concern about plans

Conte rules out major budget changes

Addis Abeba, October 12 - Premier Giuseppe Conte on Friday ruled out the possibility that the government will make major changes to its budget plans. The Commission has expressed concern that the government's plan to let Italy's budget deficit rise to 2.4% of GDP next year risk leading to a breach of the EU rules. "The budget was studied, thought-out and drafted," Conte told reporters during a visit to Ethiopia. "We may consider some interventions (as the bill goes through parliament) but it was constructed as a whole and I would exclude amending anything significant". Concerns about the League/5-Star Movement's budget plans, which have also been raised by several national and international institutions in addition to the Commission, have led to tension on the financial markets recently. The government has said this is caused by prejudice against the executive and argues that criticism of the budget plan fails to account for the way it will bolster growth and, in the process, bring down the debt-to-GDP ratio.

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