Italy approves 14 billion euros of stimulus measures as growth outlook weakens

ROME – Italy on Monday approved a new stimulus package worth 14 billion euros ($14.71 billion) to shield firms and families from the economic impact of the war in Ukraine, Prime Minister Mario Draghi said.

The measures will not push up the country’s budget deficit this year and will partly be financed by increasing a windfall tax on energy companies, Draghi told reporters after cabinet approved the government decree.

($1 = 0.9519 euros)

(Reporting By Gavin Jones, editing by Giuseppe Fonte)