Italian Deputy Prime Minister Matteo Salvini hinted at the possibility of tweaking the country's deficit goal for 2019.
Last weekend, Salvini first announced this possibility. The question of revising the budget deficit target amid the confrontation with Brussels has been raised before. According to Italian Deputy Prime Minister, the target of 2.4 percent of GDP for the public deficit is not untouchable. It can vary from 2.2 to 2.6 percent of GDP, the official is sure.
Earlier, representatives of the European Commission (EC) rejected Italy's draft 2019 budget with a deficit level of 2.4 percent of GDP. According to the EC, this may lead to another debt crisis. The new document also does not comply with the Council's rules. Last week, Brussels accused Italy of non-compliance of its budget with the rules of the European Union and threatened with imposing fines of up to 0.2 percent of gross domestic product.
According to the EC, the growth of Italian GDP in 2017 slowed down from 1.6 to 1.1 percent recorded in the current year. Next year, the Italian economy will add 1.2 percent, experts believe. The country’s budget deficit is forecast to increase to 2.9 percent of GDP next year and 3.1 percent of GDP in 2020, the Commission said. This indicator will exceed the maximum permissible value of 3 percent of GDP established by EU rules.
