Italy approves 2017 budget, paving the way for Prime Minister Renzi's resignation.

(Baonghean.vn) - On December 7th, the Italian Parliament approved the country's budget plan for 2017, a move that paves the way for Prime Minister Matteo Renzi's resignation following his defeat in the referendum to change the constitution.

Prime Minister Renzi casts her vote at the referendum on constitutional reform on December 4, 2016. Photo: Xinhua.

With 173 votes in favor and 108 against, Prime Minister Renzi's government passed a vote of confidence in the Italian Senate, thus overcoming the final hurdle to get its budget plan approved, which had already been ratified by MPs last week. Minutes after the budget plan was passed, Prime Minister Renzi announced he would submit his resignation to President Sergio Mattarella.

On his personal Twitter page, Renzi stated: “The budget has been approved. I will officially resign at 7 pm tonight. Thank you everyone.”

Earlier, on December 5th, Italian President Sergio Mattarella asked Prime Minister Renzi to postpone his resignation until the 2017 budget plan was approved by Parliament.

Also on December 5th, finance ministers from the Eurozone stated that Italy needed to “implement significant additional measures” to control its deficit next year. This will put considerable pressure on Prime Minister Renzi’s successor.

Italy's budget deficit target for 2017 is 2.3% of gross domestic product (GDP), an increase from the 1.8% previously agreed upon with the European Council.

Lan Ha

(According to Reuters)