Italy approves 2027 budget bill with newborn fund, energy cost measures
- Plan provides $116 annual state contribution for each newborn until age 18, sets gas price cap at $68.5 per megawatt-hour
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- Plan provides $116 annual state contribution for each newborn until age 18, sets gas price cap at $68.5 per megawatt-hour
By Seyma Erkul Dayanc
ISTANBUL (AA) - Italian Prime Minister Giorgia Meloni's Cabinet approved the country's 2027 budget bill on Wednesday, including a fund for newborns and measures to reduce electricity and gas costs for households and businesses, local media reported.
The budget provides for a state contribution of €100 ($116) annually for each newborn from 2027 until the child turns 18, according to government sources, according to Italian news agency ANSA.
The contribution will be paid into a pension savings fund.
The measure was proposed by Economy Minister Giancarlo Giorgetti.
The Cabinet also approved a decree aimed at reducing electricity and gas costs for households and businesses.
The measure sets a price cap of €58.9 ($68.5) per megawatt-hour, with an application period of 12 to 18 months.
Other measures on the Cabinet's agenda included a legislative decree to reform the craft sector and another to reorganize regulations governing outdoor seating areas.
The budget bill is part of the government's planned €23.5 billion package of measures for 2027, according to the draft budgetary plan previously submitted to the European Commission and the Italian parliament.
Şeyma Erkul Dayanç