Italy Tackles Debt Challenge as Defence Spending Rises

Rome: Italy is finally addressing the long-standing issue of its huge debt and is set to increase defence spending, but in a gradual way, Economy Minister Giancarlo Giorgetti said in the introduction to the government’s DPFP public finance plan, which Premier Giorgia Meloni’s cabinet approved on Thursday.

According to Ansa News Agency, the DPFP indicates that Italy’s deficit-to-GDP ratio should come in at 3% this year, which is an improvement over the government’s previous forecast of 3.3% and a reduction from the projected 3.4% in 2024.