October 3, 2018 / 5:39 PM / 8 months ago

Italy govt agrees to reduce deficit, debt targets -prime minister

ROME, Oct 3 (Reuters) - The government will look to cut Italy’s debt over the next three years and will lower the deficit after 2019, Prime Minister Giuseppe Conte said on Wednesday following a meeting of key ministers.

The ruling coalition last week said it planned to run a deficit of 2.4 percent of gross domestic product between 2019-2021, tripling the previous target and alarming investors.

But Conte told reporters the government had decided to adjust the targets, with the deficit now expected to come in at 2.1 percent in 2020 and 1.8 percent in 2021. He also said Italy’s debt ratio would fall some four percentage points over the following three years to around 126.5 percent by 2021. (Reporting by Alberto Sisto and Giuseppe Fonte, Editing by Crispian Balmer)

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