Italy's deviation from EU fiscal targets "not large", says PM Conte

Italy's Prime Minister Giuseppe Conte said on Thursday the country's deviation from European Union fiscal targets was "not large", as the EU Commission warned of a "particularly serious non-compliance" of the country's draft budget for next year.

He said the government was talking to rating agencies and was hoping that a downgrade of Italy's debt could be avoided when Moody's and Standard & Poor's both review the country's finances in the coming two weeks.

(With inputs from agencies.)