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Italy Takes First Steps in Reviving Economy
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Tags: Current Focus, Italy,
The new government of prime minister Enrico Letta in Italy suspended the summer instalment of the tax on primary residences which was unpopular in Italy. The new government plans to overhaul the tax code this summer to change the way it impacts real estate. This was one of the tax measures taken by the Monti administration. 1 billion euros will go to a wage supplement program, so that companies can retain employees during the economic downturn. Another program to provide business incentives for hiring is being considered. The new government committed itself to bring down the deficit in Italy to under 3% in 2013, which would help keep Italian borrowing costs down.
Reasons for optimism for Italy- 2013-2014
08/08/2011
As the budget deficits come under control and a younger generation of leaders under prime minister Letta take office there is reason for optimism for Italy.
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