BIG DEFICIT
ITALIAN FINANCES
DUE TO NEW BURDENS \
ROME, May "21,
Issuing a statement in the Senate on. the'financial position, the Minister of Finance, Senator Paolo de Revel, said that the financial year ending on June 30 would show a deficit of £33,400,008 instead of an estimated surplus of £200,000.
/The deficit, he said, was due to new burdens, including re-armament, public Works,.expenditure to assist the tourist industry, and bonuses, to stimulate large families. The Budget for the year 1937-38 was estiriiated to show a deficit of about £33,500,000, of which over a third was due to increased expenditure in East Africa.
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Bibliographic details
Evening Post, Volume CXXIII, Issue 120, 22 May 1937, Page 9
Word Count
102BIG DEFICIT Evening Post, Volume CXXIII, Issue 120, 22 May 1937, Page 9
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