Italy economy minister buckles to party chiefs and raises deficit goal

By Giuseppe Fonte and Angelo Amante ROME (Reuters) - Italy's government has agreed to target next year's budget deficit at 2.4 percent of gross domestic product, party chiefs said on Thursday, ending a tussle between the ruling parties and Economy Minister Giovanni Tria. The move is a concession by Tria, who had wanted a deficit set as low as 1.6 percent, and appears at odds with Italy's promise to the European Union that it would cut the deficit decisively to rein in its high debt.

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