Maneuver 2023, Eurogroup confirms ok Commission

“It is in line with the fiscal guidelines contained in the Council recommendation to Italy”

LEurogroup “Welcomes Presentation of Italy’s Updated Draft Budgetary Plan for 2023 on November 24, as well as the opinion of the Commission issued on December 14, 2022″. The Eurogroup thus confirms the Commission’s ok to the Meloni government maneuver.

The 19 recall that the guidance for 2023 included in the Council recommendations of 12 July 2022 “distinguished between Member States with high debt levels and those with medium-low debt levels, depending on their budgetary and economic situation. The Member States debt-heavy members should pursue prudent fiscal policy, in particular by limiting the growth of domestically financed primary current expenditure”.

“According to the Commission’s assessment, Italy’s Draft Budgetary Plan is in line with the 2023 fiscal guidelines contained in the Council’s recommendation to Italy. We agree with the Commission’s assessment and in particular welcome the fact that the plan aims to preserve nationally funded investments in 2023. Investments will also be supported through the Recovery and Resilience Facility”.

The 19 underline “the need to accelerate the structural budget reforms, which would strengthen potential growth, competitiveness and debt sustainability”.

In 2023, for Italy, “as well as for all euro area member states, we will examine fiscal measures to mitigate the impact of high energy prices, as set out in our statement on 5 December draft budgetary plans 2022. The Eurogroup will continue to closely monitor economic developments in the euro area and is committed to further strengthening policy coordination, in order to deliver a determined and agile policy response”.