Brussels, 02/10/2002 (Agence Europe) - While welcoming the fact that the Italian authorities should have revised their macroeconomic assumptions to bring them more into line with recent economic developments, Commissioner Pedro Solbes considers that the significant slippage in the fiscal position this year in Italy (it should reach 2.1% of GDP in 2002, then brought up to 1.5% in 2003) is "a source of concern". Mr. Solbes warns that he will draw special attention "to the high public debt ratio" (now estimated at some 110% of GDP) and the "amount of one-off adjustment measures". Solbes welcomes the will of the government to reach a position close to a balance in nominal and structural terms by 2006 and stipulates that the Commission will provide its definitive opinion on the 2003 budget and medium-term goals of Italian budgetary policy "following a complete and in-depth assessment of the measures". The Commission's analysis will focus on the "pace and quality of the budgetary consolidation process". Concluding, Mr. Solbes encourages "the Italian government to carry out a structural adjustment effort consistent with the budgetary objective planned for 2003". Previously, the Silvio Berlusconi government had said it was aiming at a budgetary deficit of 0.8% of GDP for 2003, but stagnation in production and the fall in tax revenue obliged it to revise most of its economic goals. Estimates for economic growth in 2002 were thus reviewed downwards to only 0.6% of GDP (initially 1.3%). Growth is estimated at 2.3% for 2003.