EU Economic Commissioner Paolo Gentiloni holds a news conference on the European Commission's economic forecasts for the EU for 2023 and 2024 on GDP and inflation, in Brussels, Belgium February 13, 2023.
REUTERS/Johanna Geron/File Photo Acquire Licensing RightsCERNOBBIO, Italy, Sept 2 (Reuters) - European Union Commissioner for Economy Paolo Gentiloni said on Saturday he was confident an agreement over re-implementing EU budget rules would be reached by year-end, ruling out an extension of their suspension into 2024.
"I'm confident, I'd say I have to be confident, that a deal (over the new budget rules) can be reached by year-end," Gentiloni told reporters on the sidelines of the European House Ambrosetti economic forum in Cernobbio.
Italy is preparing a difficult 2024 budget in which it will seek to meet Prime Minister Giorgia Meloni's tax-cutting promises while at the same time reducing the deficit while faced with an economic slowdown.
Gentiloni said failing to reach a deal on reviving the rules would mean a return to previous budget rules that did not help promote economic growth and cut sovereign debt in the bloc.
Persons:
Paolo Gentiloni, Johanna Geron, Gentiloni, Giancarlo Giorgetti, Giorgia, Christine Lagarde, Elvira Pollina, Giselda, Tomasz Janowski, Helen Popper Our
Organizations:
EU, REUTERS, Union, House, Italian Economy, European Commission, European Central Bank, ECB, Thomson
Locations:
Brussels, Belgium, Italy, Ukraine