July 1, 2019 / 5:57 PM / 22 days ago

Italy confirms 2020 deficit target at 2.1% of GDP: government source

ROME (Reuters) - Italy confirmed on Monday its 2020 budget deficit target at 2.1% of gross domestic product, a government source told Reuters on Monday following a cabinet meeting.

The European Commission has threatened to launch disciplinary action against Rome because it failed to cut its large public debt in 2018 as promised, and has called on the Italian government to bolster state accounts.

Earlier, a government source said the budget target for 2019 had been cut to 2.04% from a previous goal of 2.4%.

Reporting by Giuseppe Fonte; Writing by Angelo Amante; Editing by Crispian Balmer

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