July 1, 2019 / 7:47 PM / 21 days ago

Italy says will cut structural deficit by 0.3 points in 2019

ROME (Reuters) - Italy will cut its structural deficit, which excludes one-off revenues and expenditures, by 0.3% in 2019, against an expected increase of 0.2% targeted in December, a Treasury statement said on Monday.

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.

The Treasury said Italy’s public finances were widely in compliance with the European rules, and that disciplinary procedure was now “unjustified”.

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

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