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Giorgia Meloni meets her Council of Ministers at night to carry out her first budgets

MADRID, 22 Nov.

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Giorgia Meloni meets her Council of Ministers at night to carry out her first budgets


The Italian Prime Minister, Giorgia Meloni, met her Council of Ministers at Palacio Chigi on Monday night to push forward the 2023 Budget Law, which will be focused on tackling inflation and the high cost of energy .

The government coalition is finalizing the details of some accounts for next year that will include a pension reform, the reduction of VAT on basic necessities, discounts on fuel or a cut in the so-called Citizenship Income, has informed 'Corriere della Sera'.

Specifically, the first budgets of the ultra-right leader - who will present at a press conference this Tuesday - will have a package of measures of 32,000 million euros to combat the escalation of prices facing the transalpine country.

Among the most notable measures is an increase in minimum pensions from 523 to 600 euros, a decision that had already been advanced by the Italian Deputy Prime Minister, Antonio Tajani, according to the Adnkronos agency.

Likewise, the Italian Government should announce on Tuesday a reduction of up to 5 percent of VAT on basic necessities for children such as diapers, bottles or baby food, which is currently at 22 percent.

A social bonus will also be extended for the lowest incomes that would be used for purchases of basic necessities and that today is granted to people over 65 years of age and parents of children under three years of age with special requirements, the aforementioned agency has detailed. .

However, the Government of Meloni has announced that it will put an end to the Citizenship Income as of 2024, an allocation as a subsidy approved by the 5-Star Movement (M5S) in 2018 for people in social exclusion and the unemployed.

More specifically, the Italian Executive intends to exclude from these measures people employed as of January 1, 2024, while in 2023 it will reduce the aid to just eight months.

According to the International Monetary Fund (IMF) Italy will enter a recession in 2023, after forecasting a 0.2 percent contraction for next year. The Government, for its part, expects the Italian economy to shrink to a growth rate of 0.6 percent, more than two points less than in 2022.