Italy is expected to set an economic growth target for 2025 of 1.3% or 1.4% as part of its medium-term structural budget plan to be submitted to the European Commission by Sept. 20, Italian daily Il Sole 24 Ore reported on Sunday.

Italy’s government is confident economic growth will reach 1% this year, a crucial gauge for Prime Minister Giorgia Meloni to fulfill her debt-cut commitments with the European Union.

Italy plans to confirm a projected 1 per cent economic growth estimate for this year in its medium-term structural budget plan to be presented to the European Commission by Sept. 20, a Treasury junior minister said on Saturday.

Italy sees its economy expanding by at least 1.2% in 2025, a Treasury junior minister told Reuters, as the government prepares its medium-term structural budget plan to be submitted to the European Commission by Sept.