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Still stuck in economic crisis, Italy sets back again date to balance budget; now aim is 2016
Reported by: Associated Press
Reported: Thursday, April 17, 2014 10:34 AM EDT
Italy has again pushed back its balanced-budget goal, now aiming for 2016.
The Senate Thursday approved the 2016 target.
Padoan cited Italy's decision to accelerate payment of the remaining amount of public debt arrears as a key factor in the pushback.
Many private businesses had said they risked failure if the government didn't pay what it owed them for services and goods.