Italy is under growing market scrutiny as Prime Minister Giorgia Meloni prepares a difficult 2024 budget, with investors dismayed by government moves affecting sectors from banks to airlines.
The Treasury will issue new economic targets on Wednesday providing the framework for a budget in which Meloni will attempt to keep her tax-cutting promises while also lowering the fiscal deficit.
Meloni has much less room for manoeuvre than when she hiked deficit targets in her first budget a year ago. "The supportive factors that allowed the spread to reach our 160 basis point bull-case scenario have vanished," Morgan Stanley said this month in a note to clients. "We expect higher fiscal deficits and weaker growth."Italy now expects this year's deficit toAfter a cautious start, Meloni's rightist government began raising investors' eyebrows when it
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