August 12, 2019 / 9:45 AM / 6 months ago

Italy's League would set 2020 deficit/GDP goal below 3% - Borghi

ROME (Reuters) - Italy’s ruling League party would set a 2020 public deficit target at below 3% of gross domestic product, its economics spokesman said in an interview with La Stampa newspaper on Monday.

League chief Matteo Salvini pulled the plug last week on its coalition government with the anti-establishment 5-Star Movement, starting a potential countdown to elections which the country may need to tackle alongside preparing its budget in autumn.

Economics chief Claudio Borghi said the League would not implement a scheduled rise in sales tax next year, and this would raise the deficit to 2.8%, but he said other aspects of the budget were going well.

Asked in the interview if the deficit would be below 3%, he replied, “Yes, absolutely.”

Asked by Reuters what target the League was likely to set, he said it was too early to give a precise figure.

(The story corrects to show Borghi did not say 2.8% would be new target.)

Reporting by Isla Binnie, editing by Gavin Jones

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