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Reuters
Reuters
Business

Italy's parliament gives final approval to government's 2023 budget

FILE PHOTO: Italy's lower house of the parliament holds a confidence vote over the 2023 budget in Rome, Italy December 23, 2022. REUTERS/Remo Casilli

The Italian government on Thursday comfortably won a vote of confidence in the Senate over its expansionary 2023 budget, obtaining parliament's final approval of the package a few days before the end-year deadline.

Prime Minister Giorgia Meloni's first budget drives up next year's deficit to 4.5% of gross domestic product from 3.4% forecast in September, allocating more than 21 billion euros ($22.3 billion) in tax breaks and bonuses to help firms and households cope with the energy crisis.

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