Brussels, 24/05/2005 (Agence Europe) - The report published on Monday by Eurostat on the upwards revision of the figures of the Italian deficit for 2003 and 2004 to 3.1% of GDP (EUROPE 8952) did not overly trouble the Italian foreign minister. “This is a minimal change, which should not cause any concern”, said Gianfranco Fini in Brussels on Monday. “We are in a situation of low growth and policies which underpin the economy must therefore be put into place, but drawing negative and pessimistic conclusions from a change of 0.1% is wrong”, he stressed. For the time being, Eurostat is of the opinion that the three accounting operations should be imputed to the State budget, increasing the public deficit by 0.2% in 2003 and by 0.1% in 2004 compared to the notifications made in March 2005. This report provisionally closes talks between Eurostat and the Italian authorities, but the figures may yet be revised. Further to examination, there may be “another revision of the government deficit for the period from 2001 to 2004” Eurostat indicates.
When asked about the possibility of proceedings against Italy, Commissioner Franco Frattini said in Brussels on Tuesday: I have not yet seen any documents on the subject, and you know that “we normally decide after negotiating with the State in question”. The Italian treasury minister said that he had “doubts” about Eurostat's figures for the railways, Mr Frattini said, adding that these were points of detail, but the Member State in question must be heard out.
As well as new data for the deficit for 2003 and 2004, the figures for 2005 and 2006 may also be more pessimistic that the 3.6% and 4.6% forecast by the Commission. Commissioner Almunia told Repubblica: “there is an increasing risk that the ratio of the public deficit to gross domestic product for 2005, estimated at 3.6%, may be worse than anticipated”. Whatever the event, Joaquin Almunia will present his report to the College in early June, most likely 7 June, and the dossier will be dealt with by the finance ministers of the EU at the Ecofin Council of July, his spokesperson confirmed.