The European Commission late last week revised upwards its budget-deficit forecasts for Italy to 2.9% for 2019 and 3.1% for 2020 and projected lower growth for the moribund Italian economy and in line with the Eurozone’s broader slowdown.
The Italian growth forecast for 2018 and 2019 remains flat at 1,1%; down from the Commission's original projections of 1.2%, which the Eurosceptic government in Rome dismissed as unrealistic and a “technical failure.”
Due to the combination of lower growth an...

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