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Italy May Offer Concessions to EU on Deficit Aims, Corriere Says

  • Government will aim for 2.2% in 2020, 2% in 2021: Corriere
  • Previous 2.4% goal for three years had rattled markets
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Italy Said to Reduce Budget Deficit Targets
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Italy’s populist government will offer some concessions to fend off European Union pressure about its public finances, committing to reduce its budget deficit targets in 2020 and 2021, while sticking to its guns for next year, Corriere della Sera newspaper reported.

The government will maintain its plan for a shortfall of 2.4 percent of gross domestic product for 2019, while reducing the targeted gap to 2.2 percent and 2 percent for the two successive years respectively, according to Corriere. The government had originally said it would aim for 2.4 percent for all three years.