Italy trims deficit targets after EU criticism

Oct 4, 2018 10:26 am

EC welcomes plan revision, says rules will be respected

Italy’s deficit-to-GDP ratio will be set at 2.4% in 2019 to then drop to 2.1% in 2020 and 1.8% in 2021, according to the update of the DEF economic blueprint, Premier Giuseppe Conte said after a government budget summit Wednesday, responding to EU criticism.

The premier also said they estimated that unemployment would fall to 7% “with these reforms”.

Italy would close its growth gap with the rest of the EU, which has been 1% for over 10 years, “in the first year, in 2019” thanks to its new budget plan.

He said there would be additional investments of 0.2% in 2019, 0.3% in 2020, and 0.4% in 2021.

Source URL: http://eurasiatx.com/italy-trims-deficit-targets-eu-criticism/