The country has reduced the national debt.
The European Commission plans to fine Italy for 0.2% of GDP (3.5 billion euros) over insufficient efforts to reduce the size of state budget deficit and public debt, reports the Chronicle.info with reference to RBC.
It is reported that a fine must be approved by the Finance Ministers of the member countries of the European Union. The basis for the imposition of the penalty will be a violation by Italy of the EU requirements regarding public debt and deficit of the state budget.
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In particular, the public debt must not exceed 60% of GDP and budget deficit — 3%. The size of Italy’s public debt is 132% of GDP.