December 18, 2018 / 7:24 AM / 8 months ago

Italy needs to cut 2.5-3 billion euros to clear 2019 budget with EU: paper

The Italian flag waves over the Quirinal Palace in Rome, Italy May 30, 2018. REUTERS/Tony Gentile

MILAN (Reuters) - The European Commission has asked Italy for a further 2.5 billion euros-3 billion euros ($3.40 billion) in savings before approving the country’s 2019 budget, Corriere della Sera daily reported on Tuesday.

Italy has sent an amended version of the disputed budget to Brussels and a spokeswoman for Economy Minister Giovanni Tria said on Monday he was working to reach a deal later in the day.

According to the daily, Tria had told EU Commission Vice-President Valdis Dombrovskis in a phone call that Deputy Prime Ministers Matteo Salvini and Luigi Di Maio opposed further cuts because they did not want next year’s deficit target to fall below the revised level of 2.04 percent.

Reporting by Valentina Za, Editing by Sherry Jacob-Phillips

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