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Italy Will Need to Borrow More to Face Crisis, Minister Says
Italy’s government will have to plan for additional borrowing this year to protect businesses and families from the fallout of Russia’s invasion of Ukraine, Agriculture Minister Stefano Patuanelli said. “I think extra deficit spending today is more than justified and I believe it is necessary,” Patuanelli said in an interview on Radio 24. He added that the Cabinet is likely to discuss the matter “very soon.” Prime Minister Mario Draghi’s government has spent about 16 billion euros ($17 billion) so far to cushion consumers from energy price hikes that started before the Russian invasion. It managed to do ... (full story)