December 18, 2018 / 7:41 PM / 6 months ago

EU Commission accepts 2019 Italy deficit of 2.04 pct/GDP -govt source

ROME, Dec 18 (Reuters) - The European Commission has accepted Italy’s proposal to set a budget deficit target of 2.04 percent of gross domestic product (GDP) next year, a government source said on Tuesday.

Italy’s original budget proposal envisaged a deficit equal to 2.4 percent of GDP in 2019, up from 1.8 percent this year — a suggestion that the Commission had dismissed as a flagrant breech of EU fiscal rules.

After weeks of wrangling, an Economy Ministry spokeswoman announced earlier on Tuesday that Rome had struck a deal with the Commission over the budget. However, she declined to give details, saying the accord would be formalised on Wednesday. (Reporting by Giuseppe Fonte; Editing by Crispian Balmer)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below