Italy's Parliament approves 2026 budget with deficit-cutting measures

Italy’s Parliament on Tuesday approved the government’s 2026 budget, including deficit-cutting measures. The budget of about 22 billion euros ($25.9 billion) aims to reduce the 2026 deficit to 2.8% of gross domestic product, down from the previously targeted 3%, in line with the European Union's demands. The conservative coalition led by Premier Giorgia Meloni won the final vote on the budget in the lower house by 216-126.