Italian Parliament Approves 2025 Budget as Meloni Secures EU Funds

Italian Parliament approved the 2026 national budget featuring middle-income tax cuts and a gradual retirement age increase following Giorgia Meloni securing a key legislative victory.The package aims to reduce the national deficit below three percent of GDP to meet EU requirements while incorporating higher taxes on banks and insurance companies.Opposition leader Elly Schlein condemned the measure as an austerity maneuver following the release of 12.8 billion euros in recovery funds from the EU.