Italy Hits 3% Deficit With Meloni Pushing Tax Cuts, Defense
Italy's government has approved a budget that sets the country's deficit at 3% of its economic output for the current year. This decision allows Premier Giorgia Meloni's administration to allocate additional funds for tax cuts and defense spending. The budget aims to balance fiscal responsibility with Meloni's campaign promises, which included tax reductions and increased defense expenditure. By keeping the deficit within the 3% threshold, the government has managed to free up resources for these policy priorities while maintaining a relatively conservative fiscal stance. The move reflects Meloni's efforts to balance her conservative economic agenda with the need to maintain Italy's fiscal credibility within the European Union. As the country navigates economic challenges, this budget represents a compromise between Meloni's policy goals and the constraints of Italy's financial obligations.
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