Former Prime Minister Pledges To Raise Italy`s Budget Deficit If Elected Next Year
(WorldNews Belgium)

Former Italian Prime Minister Matteo Renzi said Thursday that if he wins next year´s election he will slash taxes and sharply raise Italy´s budget deficit rather than lower it as European Union rules require, Reuters reports. Renzi, leader of the ruling Democratic Party (PD), made the pledge in an evening television interview.`We´ll take the deficit back up to 2.9 percent (of gross domestic product), cutting taxes by 30 to 50 billion euros ($59.14 billion)` - Matteo Renzi Italy has committed to cutting its deficit to 1.6 percent of GDP next year from a targeted 2.1 percent this year, and to balance its budget in 2020. The EU says reining in the annual deficit toward zero is necessary to...