"All member states have to deliver their draft budget mid-October," Guenther Oettinger said at an economic event in the Austrian province of Tirol.
Italy's president asked Giuseppe Conte on Thursday to return as prime minister in a new coalition of the 5-Star Movement and opposition Democratic Party (PD), a move that could improve Italy's fractious relations with the EU.
Oettinger said he hoped Italy soon had a new government able to deliver at least a first budget draft. "If they say we need five or 10 more days, no problem," he said.
(Reporting by Kirsti Knolle; Editing by Mark Heinrich)