November 30, 2018 / 12:47 PM / 9 months ago

Italy's Conte, Tria working on plan to cut 2019 budget deficit to two percent - paper

FILE PHOTO: Italian Prime Minister Giuseppe Conte talks with Economy Minister Giovanni Tria during his first session at the Lower House of the Parliament in Rome, Italy, June 6, 2018. REUTERS/Tony Gentile/File Photo

MILAN (Reuters) - Italy’s Prime Minister Giuseppe Conte and Treasury Minister Giovanni Tria are working on a proposal to cut the 2019 deficit target to reach a deal with the European Union, Il Messaggero daily said on Friday.

The newspaper said Conte and Tria would reassure Brussels that the deficit-to-GDP target for next year will not exceed 2 percent.

Italy is targeting a deficit of 2.4 percent of gross domestic product in 2019, plans that have put it on a collision course with Brussels.

According to Il Messaggero the proposal involves delaying by several months planned welfare and pension reforms.

Reporting by Stephen Jewkes; Editing by Adrian Croft

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