Italy Says European Union Hasn't Rejected Budget Plan

(Bloomberg) -- The Italian government has denied that the European Commission had rejected its budget outline, according to an official in Prime Minister Giuseppe Conte’s office.

The official was referring to the European Commission’s letter sent to Italian Finance Minister Giovanni Tria. The wording in the letter had pointed to an outright rejection by the EU of Italy’s plans to loosen its fiscal policy next year, as the populist coalition seeks to make good on its campaign promises.

Italy’s draft budget will be sent to Brussels by October 15 and will be the basis of the EU commission’s assessment, the official said late on Friday. Italy has the “strong will to start a constructive dialogue” with Brussels, the official added.

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