The two parties have held six days of talks aimed at putting together a coalition government and ending 10 weeks of political stalemate following an inconclusive election on March 4.
Five Star's 31-year-old leader Luigi Di Maio struck an optimistic tone in his own Facebook video earlier in the day.
His words were backed up by Guglielmo Picchi, an MP and senior policy adviser for Lega.
"We have finished our work and sent everything to the leaders", said the League's economics chief Claudio Borghi, one of his party's negotiating team.
The parties are still trying to find the right balance between their two policy platforms, Salvini added.
"It is like they are part of the Franco-German axis".
The 39-page document, obtained by Huffington Post Italia, also calls for a renegotiation of Italy's European Union budget contributions, an end to sanctions against Russian Federation and plans to dismantle a 2011 pension reform that raised the retirement age.
Avramopoulos praised Italy for the management of the Mediterranean migration crisis, crediting Italy with saving migrant lives at sea.
"We are prepared for talks on issues like the European Union budget that will constrain this Government and the next - they say "Let's see what happens". Lawmakers from the two parties are due to continue negotiations on a policy program Wednesday morning, according to a Five Star official who asked not to be named.
Di Maio charged against the Financial Times and unelected Eurocrats for undermining the prospect of an M5S-league government.
"Europe needs to be respected, and Italy needs to be respected".