Italy agrees plan to boost economy

The Italian government has adopted a series of measures aimed at boosting the economy, including releasing €3bn for infrastructure projects projected to create 30,000 new jobs.

Premier Enrico Letta said the measures, based on recommendations from the European Union commission, would help Italians contribute to restarting the moribund economy. Ministers deliberated for more than six hours on the package yesterday.

The varied package of measures include relaxing procedures for collecting tax debt from crisis-stricken citizens, allowing universities to hire more researchers and reducing taxes on boats and yachts to help relieve an industry hit by earlier austerity-driven measures.

Mr Letta earlier pledged to European Commission President Jose Manuel Barroso that Italy intended to reduce its deficit to under 3% of GDP.