The European Union's proposed new Stability and Growth Pact needs to give special treatment to investments that are considered a priority at European level, Economy Minister Giancarlo Giorgetti said on Friday, Azernews reports, citing ANSA.

"In order to ensure stability, it is important in our view that adequate attention be paid to investment policy, particularly investments that have been prioritized in the European context, especially those relating to the environmental, energy and digital transition," said Giorgetti, speaking at the Economic and Financial Affairs Council (ECOFIN) in Luxembourg.

Italy believes that such priority investments should be given special treatment.

"They are investments of limited duration and an already certified quantified amount," said Giorgetti.

The minister also reiterated that the Pact needs to focus more on growth.

"Italy and the Italian government welcome the work done even though we believe there are still aspects to improve," he told his EU counterparts, adding that the country "accepts and shares" the principle of public finance responsibility but that this is not enough.

"I remind you that we are talking about a Stability and Growth Pact. Stability is important especially in times of instability.

But growth is necessary to ensure sustainability," said Giorgetti.