October 4, 2018 / 2:49 PM / a year ago

Italy GDP growth in budget plan won't exceed 1.6 percent - Di Maio

FILE PHOTO: Italian Minister of Labor and Industry Luigi Di Maio speaks at the Italian Business Association Confcommercio meeting in Rome, Italy, June 7, 2018. REUTERS/Tony Gentile/File Photo

ROME (Reuters) - Italian Deputy Prime Minister Luigi Di Maio said on Thursday that the economic growth targets in the government’s multi-year budget plan will not exceed 1.5 or 1.6 percent per year.

“I think we should settle on a number that allows us to stay in the standards of a budget that will be presented to Europe, so no higher than 1.5 or 1.6 percent GDP growth,” Di Maio told reporters in the Senate.

Di Maio said he expected the plan, which will lay out the core economic targets of 2019-21, will be sent to parliament later on Thursday. He added that the 2019 budget would not contain “punitive” tax measures against banks.

Reporting by Giulia Segreti, writing by Gavin Jones; Editing by Crispian Balmer

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