Prime Minister Giorgia Meloni’s coalition is considering selling minority stakes in selected state owned companies to boost Italy’s public finances.
Government ministers are evaluating the disposal of some assets, including a stake in the state railway, while still retaining control over the businesses, according to people familiar with the discussions.
Meloni told colleagues during a cabinet meeting on Monday that they need to pare back spending to pay for the government’s plan to cut taxes on wages and to help families in need, according to the text of her speech. Economy Minister Giancarlo Giorgetti said after the meeting that “it may be a good idea to disinvest certain assets.”
With the economy faltering after having unexpectedly shrunk in the second quarter, the government is confronting the prospect that it could potentially overshoot its deficit targets of 4.5% this year and 3.7% in 2024. Meloni surprised investors and markets in mid-August with a decision to impose a tax on additional profits earned by banks as a result of the European Central Bank’s decision to raise interest rates.
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