Italy, the eurozone’s third largest economic system, is notably forecasting a finances deficit of 2.Three percentage of GDP in 2017 — extensively higher than that expected by Brussels — due to a lethal earthquake in August as well as the expenses of managing a large influx of migrants crossing the Mediterranean from North Africa.
“We will need clarifications on the quantities included on the draft budget for consideration as ‘amazing prices’,” commissioners Valdis Dombrovskis and Pierre Moscovici wrote to Rome.
The Commission additionally wrote to the governments of Belgium and Portugal — even though their budgets are in step with EU policies — due to the fact their capability to paste to them is in doubt.
Finance frog blog 