Italy Cuts Deficit Target, Hedges on Growth Forecast

The Italian government is happy it could lower its deficit target for next year, Deputy Prime Minister Luigi Di Maio said Friday, although he also said economic growth may be smaller than forecast. The government wanted to avoid disciplinary action by the European Union over its expansionary 2019 budget, without betraying pledges made to Italian voters, Di Maio told the Italian newspaper Il Fatto Quotidiano. The European Commission had rejected the original budget, arguing that it...

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