Italy’s Giorgetti Says Deficit Plans on Track Despite Growth Hit

The Italian government laid out plans to potentially cut the country’s deficit below the European Union’s 3% ceiling next year, even with the economy growing less than forecast.

Finance Minister Giancarlo Giorgetti said the government revised its economic growth down to 0.6% from a previous 1.2% target in a press conference on Wednesday. The deficit is seen at 3.3% this year, dropping to 2.8% in 2026, he said.