August 28, 2018 / 6:11 AM / in 9 months

Italy could breach 3 percent deficit/GDP limit next year: Deputy PM to paper

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

MILAN (Reuters) - Italy’s Deputy Prime Minister Luigi Di Maio told an Italian paper the country’s public deficit could exceed the European Union’s ceiling of 3 percent of gross domestic product next year to fund spending measures promised before the vote.

“I do not exclude (breaching the 3 percent limit), everything is possible. But we can’t say it now, we are working at the budget law,” Di Maio told Il Fatto Quotidiano on Tuesday.

Di Maio reiterated that the government is aiming at nationalizing toll motorways, which are currently managed by Autostrade per l’Italia, controlled by Milan-listed Atlantia (ATL.MI).

Reporting by Francesca Landini; Editing by Neil Fullick

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