council opinion februari updat stabil programm itali council european union regard treati establish european commun regard council regul ec juli strengthen surveil budgetari posit surveil coordin econom polici articl thereof regard recommend commiss consult econom financi committe deliv opinion februari council examin itali updat stabil programm cover period council welcom revis object gener govern budget balanc recommend broad econom polici guidelin bepg council note favour reduct debt ratio gdp confirm spite higher target compar updat stabil programm high debt ratio futur challeng long term sustain public financ ag popul council consid itali revis fiscal target ambiti council note itali intent continu budgetari strategi outlin initi programm aim keep primari surplu high level reduc current expenditur percentag gdp parallel eas tax burden higher expect tax receipt assum provid back tax social secur contribut cut outlin programm primari surplu expect increas percentag gdp averag gdp period underli budgetari posit programm period safeti margin breach percent gdp deficit threshold normal cyclic fluctuat impli itali continu satisfi requir stabil growth pact council observ risk budgetari framework outlin updat stabil programm materialis plan macroeconom project assum signific acceler gdp growth annual rate optimist light recent develop extern environ hand assumpt interest rate conserv light recent develop financi market data present conclus apprais implement budget gener govern deficit higher object gdp itali fulli compli year council opinion recommend june bepg concern increas plan revenu provid back tax social secur contribut cut turn fulli structur expenditur reduc measur introduc financi law fulli effect light consider made council urg itali firmli commit respect programm object primari surplus remain high level project programm deviat plan deficit primari surplu outcom promptli address correct measur ensur tight control current primari expenditur council encourag itali accompani reduct ratio current primari expenditur gdp effect comprehens rationalis public spend aim improv suppli side condit economi itali fulfil requir stabil growth pact opportun improv futur budgetari target speed consolid process order acceler reduct govern debt ratio council recommend futur decis reduc tax social secur contribut burden match offset expenditur cut line opinion origin stabil programm opinion updat programm council note itali step address medium term structur challeng public financ pension ag relat budgetari expenditur reassess paramet pension system schedul place year postpon council urg itali address issu determin financi law includ isol measur pension council advoc comprehens approach reassess pension system place framework broader overhaul italian welfar system oj oj oj