Italy unveils a series of plans to ensure economic and energy security

Italy will approve a package of measures worth more than 9 billion euros ($8.96 billion) on Thursday to lower energy prices, increase natural gas production, and stockpile inventories ahead of winter, two government officials said. According to the Treasury Department's annual economic and financial document released last week, the spending will boost this year's budget deficit to 5.6 percent of GDP from a previous forecast of 5.1 percent of GDP. More than half of the money will be used to extend subsidies and tax breaks for energy-intensive businesses and poor households through the end of the year, which were due to expire in November. The petrol excise tax relief, which was due to expire on November 18, will also be extended until the end of December.