Italy to cut 2019 GDP growth forecast to 1% from 1.5% as part of new budget plan

Citing sources close to the matter, Reuters recently reported that Italy would cut the 2019 GDP growth forecast to 1% from 1.5% as part of the revised budget plan. Additionally, Italian economy minister Tria's spokeswoman recently told reporters that Tria hoped to agree to a budget deal with the EU Commission this evening.