September 7, 2018 / 1:25 PM / 7 months ago

EU, Italy share view on need to cut deficit, debt in 2019 budget

Valdis Dombrovskis attend a news conference in Athens, Greece, June 15, 2018. REUTERS/Costas Baltas

VIENNA (Reuters) - The European Union commissioner for the euro said on Friday he had a common “understanding” with Italy’s finance minister on the country’s fiscal targets for next year.

“We have a shared understanding of the economic situation and the objectives of the next budget to bring the debt on downward path and pursue an improvement of the structural deficit,” Valdis Dombrovskis said on Twitter after a meeting with Italy’s finance minister Giovanni Tria.

He said the meeting was “very good”, in a positive signal to markets before Italy submits its draft budget to Brussels next month as part of the regular EU fiscal monitoring of its member states.

Reporting by Francesco Guarascio

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