October 2, 2018 / 7:26 PM / 2 months ago

Italy's Di Maio says further budget details to be defined Wednesday

FILE PHOTO: Italian Minister of Labor and Industry Luigi Di Maio speaks at the Italian Business Association Confcommercio meeting in Rome, Italy, June 7, 2018. REUTERS/Tony Gentile/File Photo

ROME (Reuters) - Italian Deputy Prime Minister Luigi Di Maio confirmed on Tuesday the broad outlines of the government’s 2019 budget, but said some further elements of forthcoming economic plan would be set on Wednesday morning.

Speaking after a meeting of key ministers, Di Maio reiterated that the budget would include 10 billion euros ($11.5 billion) of welfare support for the poor, a watering down of an unpopular pension reform and a further one billion euros set aside to help savers hit by recent banking scandals.

He confirmed the budget deficit would amount to some 2.4 percent of gross domestic product.

Despite a plethora of recent meetings, ministers have still not unveiled all the main projections in their so-called Economic and Financial Document (DEF). “Some details will be further defined tomorrow morning,” Di Maio said, without directly referring to the DEF.

Reporting by Angelo Amante; Editing by Crispian Balmer

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