Italy targets budget deficit falling to 2.2 percent of GDP in 2020, 2 percent in 2021: source

FAN Editor
FILE PHOTO: Italy's Prime Minister Giuseppe Conte addresses the General Assembly in New York
FILE PHOTO: Italy’s Prime Minister Giuseppe Conte addresses the 73rd session of the United Nations General Assembly at U.N. headquarters in New York, U.S., September 26, 2018. REUTERS/Eduardo Munoz

October 3, 2018

ROME (Reuters) – Italy’s government targets for the budget deficit to fall to 2.2 percent of gross domestic product in 2020 and to 2 percent in 2021 from an expected 2.4 percent next year, a government source from the right-wing League party said on Wednesday.

The 2020-2021 numbers were first reported by daily Corriere della Sera and La Repubblica.

Prime Minister Giuseppe Conte said late on Tuesday that Rome aimed to “accelerate the decline in the debt-GDP ratio in a consistent fashion over a three-year period”, without giving any numbers.

The coalition last week said it planned to run a deficit of 2.4 percent of GDP over the next three years, tripling the previous target, unnerving markets and prompting criticism from European Commission officials.

Conte is due to meet with key ministers to discuss the budget targets for 2019-2021 at around 1100 GMT on Wednesday, another government source added.

(Reporting by Giuseppe Fonte, writing by Agnieszka Flak, editing by Giselda Vagnoni)

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