Official GDP growth report from Italy's National Institute of Statistics

Italy's Senate Approves 30-Billion-Euro Budget for 2025 with 108 Votes for, 63 Against, Emphasizing Tax Cuts

Dec 28, 2024, 12:48 PM

Italy's Senate has approved the government's budget for 2025, marking a key victory for Prime Minister Giorgia Meloni. The final vote saw 108 in favor and 63 against, with one abstention. The budget, which emphasizes tax cuts and debt control measures, faced significant opposition, leading to the resignation of the rapporteur, Guido Liris, from the ruling Brothers of Italy party. Meloni described the budget as a balanced approach, aimed at maintaining fiscal discipline while addressing electoral commitments. The approval follows a contentious debate, highlighted by tensions between opposition leader Matteo Renzi and Senate President Ignazio La Russa, where Renzi criticized a specific provision as illiberal. The government has positioned this budget as a prudent step towards a stronger Italy, despite criticisms regarding infrastructure concerns and the overall economic strategy.