January 30, 2020 / 2:23 PM / in 23 days

Italy risks diverging from EU budget recommendations - Dombrovskis

ROME, Jan 30 (Reuters) - Italy still risks diverging significantly from the budget recommendations made by the European Union for this year, European Commission Vice President Valdis Dombrovskis said on Thursday. Last autumn Brussels said Italy’s 2020 budget risked breaking EU budget rules, but in the end did not ask for changes.

Dombrovskis added that Italy, which proportionally has the second biggest debt pile of the euro zone, had not reduced its debt fast enough.

He encouraged the coalition government to cut labour taxes, tackle tax evasion and deal with vulnerabilities in financial sector. (Reporting by Giuseppe Fonte, writing by Giulio Segreti, editing by Gavin Jones)

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