Italy confirms 2020 deficit target at 2.1% of GDP: government source

[ROME] Italy confirmed on Monday its 2020 budget deficit target at 2.1 per cent of gross domestic product, a government source told Reuters on Monday following a cabinet meeting.

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.

Earlier, a government source said the budget target for 2019 had been cut to 2.04 per cent from a previous goal of 2.4 per cent.

REUTERS