The European Commission promoted the draft 2022 budget sent to Brussels, Italy on October 20 last year, however, in its judgment He invited the country to set itself the goal of minimizing the increase in current public spending in the face of high public debt.: Italy does not plan to adequately limit the increase in current spending financed by national resources, and the Commission invites Italy to take the necessary steps in the budget process to reduce it, in order to contribute to the pursuit of a prudent monetary policy.
The stability agreement has been suspended
Quantitative observations are not predictable, but qualitative, The Stability Agreement has been suspended since 2020, and is likely to actually take effect in 2023, despite uncertainties due to Kovid. During the presentation of the European Semester Package, as stated by the Vice President of the European Commission, Valdis Dombroskis, he explained that Brussels will conduct in-depth analyzes for the nine member states that have already been identified as unbalanced – Croatia, France, Germany, Ireland, the Netherlands, the Netherlands, and the Netherlands. , Greece, Italy.
When asked if the Commission already expects spending cuts in the 2022 financial crisis, EU Finance Commissioner Paulo Gentiloni said in a press conference: “It is very clear that we are not seeking any specific amendments. We only drew attention to the issue of what the government intends to address: how and when it will be an Italian decision.. Italy’s shape, copes well with vaccination campaign, has good growth figures – adds Commissioner -. Although we talked about the current spending speech, we already do so in the June recommendations, but this is a major issue for those with high debt.
Kovid also fears inflation
Gentleoni repeated it The strong European recovery, however, is subject to considerable uncertainty. The recurrence of the infection and the rise in inflation are likely to increase again in the coming months, before they begin to decline in 2022.. He said Covid’s resumption and subsequent regulatory measures would have a definite impact on our economy – especially on high – intensity contact services, but the Commission does not expect them to exert the same economic activity as lockdowns last winter.
Do not interrupt the recovery
The next challenge is to reduce debt without compromising on recovery. For debt-ridden countries, debt relief must be realistic and credible, Dombrovsky said: Debt relief policies need to find ways to ensure that recovery does not occur. This is the basic beginning of the discussions that began after the Commission presented its proposal in the spring to review the stability agreement, which became a reality.
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