The EU prime Commissioner Pierre Moscovici has criticised the Italian government 's budget plans , which it believes has " abolished poverty " , but sets the country 's budget deficit at 2.4 % of gross domestic product ( GDP ) until 2021 . The ruling Five Star and League parties pledged budget cuts , new social welfare policies and better pensions during the election campaign , but economy minister Giovanni Tria had also tried to avoid adding to Italy 's € ##500 ( $ 2.7tn ) deficit by limiting the deficit to 2 % of GDP . Italy 's budget will be sent to the European Commission for approval later this month .
The EU Economic Commissioner Pierre Moscovici has criticised the Italian government's budget plans, which it claimed has "abolished poverty", but sets the country's budget deficit at 2.4% of gross domestic product (GDP) until 2021. The ruling Five Star and League parties pledged tax cuts, new social welfare policies and better pensions during the election campaign, but economy minister Giovanni Tria had also tried to avoid adding to Italy's €2.3tn ($2.7tn) debt by limiting the deficit to 2% of GDP. Italy's budget will be sent to the European Commission for approval later this month.