October 18, 2018 / 5:16 PM / a month ago

EU says Italy budget poses no stability risk to bloc

LONDON, Oct 18 (Reuters) - Italy’s planned budget plan does not pose a “Greek-like” threat to European Union financial stability, the bloc’s financial services chief said on Thursday.

Asked if Italy was facing a crisis like Greece did during the euro zone debt crisis, Dombrovskis said: “I would not jump on that kind of speculation”.

The Italian government HAS unveiled the core of its expansionary multi-year budget plan, raising the target for the fiscal deficit to 2.4 percent of gross domestic product next year, three times the 0.8 percent goal set by the previous centre-left administration.

Dombrovskis said he had sent a letter to Italy expressing concerns about the budget plan. (Reporting by Huw Jones Editing by Andrew Heavens)

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