Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Seven African countries' economies at risk over Brexit decision

Read more

THE DEBATE

Britain votes out: What next?

Read more

#TECH 24

The 'fintech' revolution

Read more

FRANCE IN FOCUS

A certified 'palace': How hotels strive for excellence

Read more

#THE 51%

In her own image: Women in Art

Read more

REPORTERS

World War I: When northern France was on German time

Read more

REVISITED

Video: Ugandan city still scarred by Lord's Resistance Army atrocities

Read more

MEDIAWATCH

#Brexit sparks a storm on social media

Read more

BUSINESS DAILY

Markets, pound plunge on Brexit vote

Read more

Europe

Italian government backs €24 billion austerity package

Text by News Wires

Latest update : 2010-05-25

The government of Prime Minister Silvio Berlusconi (pictured) has approved a legal decree enforcing budget cuts worth 24 billion euros in a bid to reduce the public deficit from last year's 5.3% of gross domestic product to 2.7% in 2012.

AFP- The Italian government approved Tuesday austerity measures worth 24 billion euros for 2011-2012 aimed at stabilising the public finances, a government source told AFP.
   
"The legal decree has been approved," the source said at the end of a cabinet meeting, adding that the measures, made up of spending cuts and revenue increases, amounted to a total 24 billion euros (25.9 billion dollars).
   
The measures are supposed to help the government cut the public deficit from 5.3 percent of gross domestic product in 2009 to 2.7 percent in 2012, bringing Italy into line with an EU limit of three percent.
 

Date created : 2010-05-25

  • SPAIN

    Zapatero unveils fresh budget cuts

    Read more

  • FRANCE

    'No austerity plan', Sarkozy tells unions

    Read more

COMMENT(S)