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2016-08-13 — news.rthk.hk
Italy is to seek a new deal with the European Union to allow it to kickstart its stalling economy with an expansionary 2017 budget, a government minister said Saturday... Calenda implied that could mean allowing the 2017 budget deficit to run higher than previously planned, possibly up to the three percent of GDP ceiling enshrined in the eurozone's rules.
The Commission has set Italy a deficit target of 1.8 percent for 2017, arguing that kind of adjustment is necessary to reverse the upward trend in the country's huge debt, which hit a record of just under 2.25 trillion euros.
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