Roma: The Italian senate has passed the government budget for 2016 with the consent of 162 senators against 125.
The move will bring Italy’s budget deficit to 2.4% of gross domestic product in 2016, up from an originally planned 2.2%.
Measures in the 2016 budget law include scrapping of an unpopular housing tax, additional tax breaks for companies and a pay bonus for police forces engaged in anti-terrorism duties.
It also eliminates levies on agricultural and industrial equipment, offers tax breaks to companies that invest in machinery and equipment.
The government argues the measures are needed to bolster economic growth by easing the heavy tax burden on Italians.
Italian economy, the third-largest economy in the euro zone, is expected to achieve 0.8% growth this year after three years of recession.
QNA
