October 11, 2018 / 12:50 PM / 2 months ago

Italy cabinet set to approve 2019 budget on Monday -lawmaker

ROME, Oct 11 (Reuters) - The cabinet aims to approve Italy’s 2019 budget on Monday, five days ahead of the official deadline for presenting the financial package, a senior lawmaker from the ruling 5-Star Movement said on Thursday.

“The intention of the government is to bring (this) to the cabinet on Monday. It seems to me to be a signal to Europe,” said Stefano Patuanelli, the parliamentary party leader of the 5-Star in the Senate.

The government has already issued the financial targets that will provide the framework for the budget, drawing fire from the European Commission for plans to triple the previous deficit goals for 2019.

Government ministers have said Brussels should reserve judgement until full details of the budget are unveiled.

Under Italian law, the government has until Oct. 20 to approve a budget and pass the bill to parliament for review.

Economy Minister Giovanni Tria told a parliamentary commission on Wednesday that deficit spending would total 22 billion euros ($25.5 billion)next year, with the budget including 15 billion euros in cuts and extra revenue to help cover 37 billion in total additional spending. (Reporting by Giuseppe Fonte; Writing by Crispian Balmer, editing by Gavin Jones)

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