LUXEMBOURG (AP) — Italy is trying to reassure its eurozone partners over its plans to ramp up government spending, which have had financial markets and other governments worrying about the country's public finances.

Italy's finance minister said his counterparts in the 19 nations that use the euro should "remain calm" and await his explanations of the budget proposal. He spoke ahead of a monthly meeting of the finance ministers.

Italy's stock market fell sharply on Friday after the populist, euroskeptic government announced a sharp public spending increase that will push the budget deficit to 2.4 percent of gross domestic product next year. The move risks a confrontation with the European Union.

Mario Centeno, who heads the finance meetings, said: "We all have questions about it and so we are expecting answers."