Via Yahoo Finance

ROME (Reuters) – Economy Minister Giovanni Tria said on Tuesday Italy’s deficit-to-GDP ratio for 2019 is heading towards 2.1% or 2.2%, according to the latest figures.

Tria, addressing the lower house of parliament, said the government will have a clearer picture in July, after the arrival of mid-year tax returns, but the deficit would be below the government’s own official target of 2.4% and the Commission’s projection of 2.5%.

The European Commission has threatened to open a disciplinary procedure over Italy’s public debt, which according to Brussels will rise to 133.7% this year and 135.2% in 2020, breaking EU rules that say it should fall.

(Reporting by Giuseppe Fonte; writing by Angelo Amante)

READ ALSO  The green bank went south; let's hope Sunak's new version succeeds