According to Reuters news, Italy will probably raise its 2020 budget deficit goal to around 2.1 percent of gross domestic product when it publishes new targets this week, three government sources told Reuters, and the figure could be hiked again after the summer:
- Italy, whose public debt is proportionally the highest in the euro zone after Greece’s, is struggling to hold its finances in check while keeping costly promises made by the populist ruling coalition.
- The new forecasts will be presented in the annual Economic and Financial Document (DEF) due to be issued by Wednesday, which sets the framework for the 2020 budget.
- The current 2020 deficit target, set in December, is 1.8 percent of GDP, down from 2.04 percent this year, but a recent economic downturn means both years will have to be revised up.
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