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Italy Prepares 2027 Budget for Approval

Italy plans to approve its 2027 budget law on Wednesday amid ongoing discussions with the European Union regarding a temporary fiscal deficit increase. The cabinet aims to fund tax cuts and spending hikes worth approximately 23.5 billion euros while addressing rising energy costs.

Italy's Prime Minister Giorgia Meloni talks with Economy Minister Giancarlo Giorgetti, as she appears at the upper house of the Parliament in Rome, ahead of a European Union leaders' summit, in Rome, Italy, March 18, 2025. REUTERS/Remo Casilli

Italy plans to approve its 2027 budget on Wednesday, aiming to fund €23.5B ($26.22B) in tax cuts and spending hikes. Economy Minister Giancarlo Giorgetti confirmed the timeline during regional talks on Tuesday amid ongoing negotiations with European Union authorities over deficit limits. The fiscal package represents the final budget under Prime Minister Giorgia Meloni ahead of national elections scheduled for 2027.