Italy Targets Economic Growth Amid Deficit Reductions

Italy forecasts a 1.2% economic growth by 2025 and plans to lower its budget deficit goals ahead of a publication on Friday. The government's targets include reducing the deficit to 3.2% of GDP by 2025. These measures aim at meeting EU fiscal requirements amid reforms and strategic investments.

Italy projects a 1.2% economic growth by 2025 and plans to lower its budget deficit targets for the present and upcoming years, according to sources prior to the figures' release on Friday.

The growth target remains consistent with previous estimates, despite a global trade slowdown. Rome will set this year's budget deficit at 3.8% of GDP, reduced from an initial 4.3% projection.

In 2025, the deficit aims to reach 3.2% of GDP, improving from a prior 3.6% target agreed with the European Union. These adjustments include recent economic data revisions for 1995-2023 by ISTAT, which provided modest aid to Prime Minister Giorgia Meloni's administration.

(With inputs from agencies.)