The others are Belgium, France, Hungary, Malta, Poland and Slovakia.
Economy Minister Giancarlo Giorgetti had said the procedure was to be expected with the return of the EU budget rules that had been suspended due to the COVID.
Another factor, according to Giorgetti, is the Ukraine-war linked energy-price crises.
Italy posted a deficit of 7.2 per cent last year.
The Commission said Italy’s macroeconomic imbalances had eased and were no longer excessive.
“Greece and Italy are now found to be experiencing imbalances after experiencing excessive imbalances until last year as vulnerabilities have declined but remain a concern,” the EU executive said.
“Fiscal sustainability risks will be surveyed under the reformed fiscal rules.”
ANSA
