Italy passes 2017 budget, paving way for Prime Minister Renzi to resign

(Baonghean.vn)- On December 7, the Italian Parliament approved the country's budget plan for 2017, a move that paved the way for Prime Minister Matteo Renzi to resign after failing in a referendum to change the constitution.

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

With 173 votes in favor and 108 against, Mr Renzi's government has passed a confidence vote in the Italian Senate, thereby overcoming the final challenge to the approval of the budget plan, which was approved by lawmakers last week. Minutes after the budget plan was approved, Prime Minister Renzi announced that he would submit his resignation to President Sergio Mattarella.

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

Previously, on December 5, Italian President Sergio Mattarella asked Prime Minister Renzi to postpone his resignation until the 2017 budget plan is approved by the National Assembly.

Also on December 5, Eurogroup finance ministers said Italy needed to “take significant additional measures” to control its deficit next year, putting pressure on Prime Minister Renzi’s successor.

Italy's 2017 budget deficit target is 2.3 percent of gross domestic product (GDP), up from the 1.8 percent previously agreed with the European Council.

Lan Ha

(According to Reuters)