An analysis of the monthly bulletin published by the European Central Bank shows that “In countries with high levels of public debt (including Italy) the debt-to-GDP ratio is decreasing, but slowly”.
According to the ECB, "among the six countries, whose draft budgetary plans represent a risk of non-compliance with the Stability and Growth Pact, high levels of public debt are expected in 2018 for Belgium, France, Italy and Portugal, over 90 per cent of GDP and, with the exception of Portugal, the public debt of these countries is not expected to be brought back to levels close to the reference value established by the rule of the Stability and Growth Pact, ie 60% of GDP ”.
The ECB recalls that in the declaration of 4 December 2017, "the Eurogroup noted that in some Member States the slow pace of debt reduction from high levels continues to be a cause for concern".
Concerning Italy “in the letter sent by the Commission on 22 November 2017 it is stated that insufficient progress has been made towards complying with the debt rule and that Italy's public debt remains a key vulnerability. At the same time, the Commission has not yet published a report based on the information submitted for 2016, as required by the Treaty on the Functioning of the European Union ”.