ISSN 2330-717X

Italy : Government To Meet To Address Mega Budget Deficit


The Italian government is to hold an extraordinary meeting Friday evening to adopt further austerity measures aimed at saving 45 billion euros in the next two years, in yet another bid to address the mega public debt which reached 1.9 trillion euros.

The premiership said in a short statement the cabinet was called for a meeting to discuss urgent financial measures, a day before prime minister and economy minister were due to meet the President to brief him on the state-of-play of financial crisis.

Prime Minister Silvio Berlusconi, at the end of a meeting between the government and representatives of local governments today, said the extra austerity measures aimed at saving 20 billion euros in the 2013 budget and 25 billion euros in the 2013 budget.


Berlusconi said these steps aimed at meeting the European Central Bank’s (ECB) to tackle the public deficit.

Minister of economic Giulio Tremonti, during a meeting with the budget and constitution committees at the parliament yesterday, said the government was determined to cut the deficit, reduce spending of financial institutions, cracking down on tax evasion and possible raise of tax on financial income

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KUNA is the Kuwait News Agency

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