October 17, 2016 / 10:36 AM / 9 months ago

European Commission not received 2017 Italy, Portugal budget plans yet

1 Min Read

BRUSSELS, Oct 17 (Reuters) - The European Commission said it had not yet received draft budgetary plans for 2017 from Portugal and Italy, but conceded that EU countries now faced a deadline of the close of business on Monday.

"Following last week's Eurogroup, there was an understanding they could be submitted by close of business tonight," a Commission spokeswoman told a news conference.

Italian Prime Minister Matteo Renzi announced his 2017 budget plan on Saturday, hoping to persuade the European Commission to approve its minimal reduction in the budget deficit next year while avoiding unpopular belt-tightening. (Reporting By Philip Blenkinsop)

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