Italy to raise 0.44% of GDP from financial sector through 2029 to fund budget

ROME: Italy plans to raise 0.44% of gross domestic product from the financial sector to help fund its budget over the 2027-2029 period, a government document showed on Thursday.

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The contribution will be permanent rather than a one-off measure, amounting to 0.21% of GDP in 2027, 0.13% in 2028 and 0.1% in 2029, the Draft Budgetary Plan (DPB) sent to European Union authorities said.