Italy discussing reducing 2019 deficit target - government source

Italy discussing reducing 2019 deficit target - government source

Channel NewsAsia - World·2018-11-26 15:05

Italy's government will meet on Monday evening to discuss a potential reduction of its deficit goal, a government source said, in a move that could open negotiations between Rome and Brussels to avoid a disciplinary procedure against Italy.

FILE PHOTO: The Italian flag waves over the Quirinal Palace in Rome, Italy May 30, 2018. REUTERS/Tony Gentile

ROME: Italy's governing coalition is discussing reducing next year's budget target to 2.0-2.1 percent of gross domestic product from the current target of 2.4 percent to avoid a disciplinary procedure from Brussels, a government source said on Monday.

Rome risks being put under a disciplinary procedure by European partners after it presented an expansionary 2019 budget, revising up fiscal targets compared with goals agreed by the previous government.

(Reporting by Giuseppe Fonte, writing by Steve Scherer; editing by Agnieszka Flak)

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