ZCZC
BCN-22
ITALY-EU-FINANCE-BUDGET-SECURITIES
Italian budget: Di Maio open to cutting deficit
MILAN, Nov 26, 2018 (BSS/AFP) – Vice-premier Luigi Di Maio said Monday he
was open to lowering Italy’s draft budget deficit, sending stocks sharply
higher on the Milan stock exchange on hopes it could ease a stand-off with
Brussels.
The European Commission has rejected the draft budget because it sharply
increases spending and the deficit — to 2.4 percent of gross domestic
product (GDP) from the previous government’s 0.8 percent, which it says will
only add to Italy’s already massive debt mountain.
BSS/AFP/HR/1450