Italy raises deficit target for 2016 to 2.4 per cent of GDP

Rome, Rabi’I 9, 1437, Dec 20, 2015, SPA — Italy’s 2016 budget shortfall will be larger than
previously planned, its centre-left government said Sunday, dpa reported.

The deficit target was raised from 2.2 to 2.4 per cent of gross
domestic product (GDP), the office of Prime Minister Matteo Renzi
said in a statement, following an overnight parliamentary vote that
added more spending commitments to a draft budget law.

The so-called stability law was approved by the lower Chamber of
Deputies in a 297-93 vote, with four abstentions. It is expected to
be given a final nod by the Senate, the upper assembly, before

15:57 LOCAL TIME 12:57 GMT