Giovanni Tria, the Italian Minister of Economy, made the following statement:
- The decline in economic growth is expected to increase the deficit next year and slow the reduction of public debt.
- We affirm our commitment to prudent fiscal policy.
- Italy plans to sell its stake in the state-controlled bank Monte dei Paschi di Siena.
- The government estimated the country's growth to be 1.2% this year, lower than previously expected at 1.5% and growth to fall to 1% or 1.1% lower than previously forecasted 1.4% for next year.
- The slowdown in economic growth will raise the deficit to 1.2% in 2019, which would be higher than the 0.8% target set by the previous administration.
- Low growth could slow Italy's debt reduction, which is the second highest in the EU after Greece.
