Italy's Prime Minister Matteo Renzi delivers a speech during a welcome ceremony at the National Palace in Mexico City, Mexico, April 20, 2016. REUTERS/Edgard Garrido
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Italian Prime Minister Matteo Renzi Tuesday claimed victory in his battle with Brussels for leeway on the EU's budget rules to fund tax cuts and growth-boosting spending.Renzi did not specify exactly how much "flexibility" Rome had been granted by the European Commission, which will Wednesday publish its assessment of whether Eurozone countries are sticking to the rules.In its budget for 2016, it proposed discounting amounts equivalent to 0.5 percent of GDP to cover the cost of implementing structural reforms, 0.25 percent for infrastructural investment and a total of 0.1 percent for costs related to the migrant crisis and anti-terrorism measures.Renzi has pledged that the debt level will fall this year for the first time since 2007 .
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