UPDATE 1-Spain, Portugal likely to cut 2021 borrowing targets - debt officials

(Adds Spanish green bond, Italian inflation-linked bonds)

By Yoruk Bahceli

LONDON, June 22 (Reuters) - Spain and Portugal will likely be able to reduce their government borrowing targets for 2021 in the second half of this year, debt management officials from both countries said on Tuesday.

Spain's debt office head Pablo de Ramon-Laca Clausen said Spain would probably be in a position by the summer to reduce the issuance target for the rest of 2021.

The country expects to issue its debut green bond during the fourth quarter, Ramon-Laca Clausen added

Portugal also expects to scale down the country's funding plan at the margin for the rest of the year as tax receipts for the country have been higher than expected, debt management office head Cristina Casalinho said.

The officials were speaking at a Euromoney conference on debt markets.

Speaking at the same event, Italy's debt management chief Davide Iacovoni said that his office was closely following the inflation-linked bond market, with there being potential for new bonds to be issued. (Reporting by Yoruk Bahceli, Editing by Abhinav Ramnarayan and Sujata Rao)