MILAN – The Italian government on Wednesday softened budget deficit targets that have alarmed investors and eurozone partners, saying they would be gradually lowered after 2019.
Economy Minister Giovanni Tria confirmed that the deficit to gross domestic product ratio next year would be higher than agreed by the previous government with the European Commission. But he added "that there would be a gradual reduction in the deficit in successive years."
Premier Giuseppe Conte later told a news conference later that the 2.4-percent budget deficit targeted for next year would be reduced to 2.1 percent in 2020 and 1.8 percent in 2021."We […]
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