The Senate on Thursday approved
the government's decision to postpone balancing the national
budget until 2018, as outlined in an update statement to the
executive's economic blueprint, the economic and financial
document (DEF).
The resolution, which needed an absolute majority of 161
Senators, passed with 170 votes in favour.
Earlier on Thursday the Lower House also approved the
resolution by Premier Matteo Renzi's executive with 342 votes in
favour, well above the absolute majority of 316 MPs.
The DEF statement also stated that Italy's deficit-to-GDP
ratio should be 2.4%, rather than the previously planned 2.2%,
in view of the possibility that the EU will grant extra budget
flexibility (some 0.2%) for States faced with extra spending due
to the refugee crisis.
Parliament also voted to commit the government to extend
certain breaks in social-security contributions for firms who
hire young people on permanent contracts and to find ways to
make the pension system more flexible to enable people close to
retirement age to take early retirement if they wish to.
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