Reuters reports that according to a draft of a forecasting document to be published by the Treasury at 1400 GMT, Italy will sharply lower its target for the public debt on Wednesday to 153.5% of national output from a previous goal of 159.8%. The draft of the new Economic and Financial Document (DEF) is currently being discussed by the cabinet ahead of approval. The latest debt target would mark a decline from the post-war record of 155.6% registered in 2020.

The draft of the DEF forecasts economic growth of 6.0% this year, slowing to 4.7% in 2022, and targets the budget deficit at 9.4% of gross domestic product this year, falling to 5.6% in 2022.