June 11, 2019 / 12:42 PM / 2 months ago

Economy Minister Tria sees Italy's deficit/GDP at 2.1/2.2% in 2019

Italian Economy Minister Giovanni Tria is seen in parliament as he speaks over the looming EU disciplinary action against Italy for excessive debt, in Rome, Italy June 11, 2019. REUTERS/Remo Casilli

ROME (Reuters) - Economy Minister Giovanni Tria said on Tuesday Italy’s deficit-to-GDP ratio for 2019 is heading towards 2.1% or 2.2%, according to the latest figures.

Tria, addressing the lower house of parliament, said the government will have a clearer picture in July, after the arrival of mid-year tax returns, but the deficit would be below the government’s own official target of 2.4% and the Commission’s projection of 2.5%.

The European Commission has threatened to open a disciplinary procedure over Italy’s public debt, which according to Brussels will rise to 133.7% this year and 135.2% in 2020, breaking EU rules that say it should fall.

Reporting by Giuseppe Fonte; writing by Angelo Amante

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