Economics
Italy Offers 2.04% Budget Deficit Target in EU Peace Gesture
- European Commission had rejected budget with 2.4% deficit
- Premier Conte met EU commission chief Juncker in Brussels
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Italian Prime Minister Giuseppe Conte proposed to cut the deficit target to 2.04 percent of output for next year in a significant concession to the European Commission.
Conte told reporters after meeting commission President Jean-Claude Juncker in Brussels that technical analyses had allowed the government to recover resources and lower the 2019 deficit from an initial 2.4 percent. The original number was rejected for being in breach of European Union rules.