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.

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 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.