August 3, 2018 / 4:57 PM / 8 months ago

Italy PM Conte says government has decided 2019 budget framework

Italy's Prime Minister Giuseppe Conte departs after his joint news conference with U.S. President Donald Trump in the East Room of the White House in Washington, U.S., July 30, 2018. REUTERS/Brian Snyder

ROME (Reuters) - Italian Prime Minister Giuseppe Conte said on Friday the government had fixed the framework of its 2019 budget to be presented in September, and promised reforms that would ensure stronger economic growth.

Conte issued a statement after meeting top ministers, as financial markets sold Italian bonds due to concerns over the government’s promises of tax cuts and higher spending.

“We have decided the economic and financial plan that we will present in September,” Conte said, adding that his cabinet had looked at “various reforms” that will allow Italy to grow more and become more competitive on global markets.

The statement gave no further details.

Reporting by Gavin Jones; Editing by Crispian Balmer

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