Italy presents low-key budget ahead of 2018 electionsROME (Reuters) - Italy s government approved on Monday a low-key 2018 budget which includes measures to raise youth employment, tackle poverty and encourage investments ahead of an election in the spring.  The financial package aims to lower the budget deficit to 1.6 percent of gross domestic product (GDP) from a targeted 2.1 percent this year, while avoiding painful pre-election belt-tightening measures. Prime Minister Paolo Gentiloni s task has been made easier by stronger-than-expected economic growth and low interest rates which reduce the cost of servicing Italy s huge public debt   the highest in the euro zone after Greece s.      The budget certifies that the Italian economy is at a turning point and it contains resources aimed to reinforce the turnaround,  Economy Minister Pier Carlo Padoan told reporters. The package will now be sent to the European Commission for review and at the same time begin its passage through parliament, where it must be approved by the end of the year. It is likely to be one of the last pieces of legislation passed by parliament before the president dissolves the upper and lower houses and calls the election. Last month the government increased its GDP growth forecast for this year to 1.5 percent from 1.1 percent, and hiked next year s outlook to 1.5 percent from 1.0 percent. The debt-to-GDP ratio is targeted to edge down in 2018 to 130.0 percent from a targeted 131.6 percent this year. Overall, the budget is expansionary because, according to the Treasury s estimates, if current policies had been left unchanged the deficit would have fallen to 1.0 percent of GDP next year rather than 1.6 percent. However, Italy is constrained by its massive debt which precluded a give-away pre-election package. Most of the resources available were used to avoid increases in sales tax which had been previously pencilled in for next year. Padoan said the measures  might seem modest,  but were  well targeted,  while Gentiloni, in typically understated tones, called it  a slim budget that will be useful for our economy.  The European Commission is expected to sign off on the package even though Italy hiked the deficit target previously agreed with Brussels, as it has done repeatedly in recent years. Public finance disputes with Brussels may intensify after  next year s election. All the main parties say they will raise the budget deficit rather than reduce it as the European Union s fiscal rules prescribe. In an effort to tackle a youth unemployment rate of almost 40 percent, the budget offers a 3-year reduction in the pension contributions of companies that hire people under the age of 35 on regular, open-ended contracts. It also offers tax breaks for firms that invest in new machinery, increases income support for the poor, and sets aside funds to raise public salaries for the first time in almost a decade and hire 1,500 university researchers, Padoan said. Extra revenue for the state will come from a partial amnesty for people who settle tax disputes with the authorities by paying a discounted sum. Gentiloni appealed to parliament to show a  sense of responsibility  in approving the budget, after a leftist group last week said he could no longer count on its support following a political row over a new electoral law. However, a majority is likely to be found to back the budget to clear the way for elections now widely expected in March.  worldnews
italy presents budget ahead electionsrome reuters italy government approved monday budget includes measures raise youth employment tackle poverty encourage investments ahead election spring the financial package aims lower budget deficit percent gross domestic product gdp targeted percent year avoiding painful measures prime minister paolo gentiloni task made easier economic growth low interest rates reduce cost servicing italy huge public debt highest euro zone greece the budget certified italian economy turning point contains resources aimed reinforce turnaround economy minister pier carlo pardon told reporters the package sent european commission review time begin passage parliament must approved end year it likely one last pieces legislation passed parliament president dissolves upper lower houses calls election last month government increased gdp growth forecast year percent percent hired next year outlook percent percent the ratio targeted edge percent targeted percent year overall budget expansionary according treasury estimates current policies left unchanged deficit would fallen percent gdp next year rather percent however italy constrained massive debt precluded package most resources available used avoid increases sales tax previously penciller next year pardon said measures might seem modest well targeted gentiloni typically understated tones called slim budget useful economy the european commission expected sign package even though italy hired deficit target previously agreed brussels done repeatedly recent years public finance disputes brussels may intensify next year election all main parties say raise budget deficit rather reduce european union fiscal rules prescribe in effort tackle youth unemployment rate almost percent budget offers reduction pension contributions companies hire people age regular contracts it also offers tax breaks firms invest new machinery increases income support poor sets aside funds raise public salaries first time almost decade hire university researchers pardon said extra revenue state come partial amnesty people settle tax disputes authorities paying discounted sum gentiloni appealed parliament show sense responsibility approving budget leftist group last week said could longer count support following political row new electoral law however majority likely found back budget clear way elections widely expected march worldnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Italy presents low-key budget ahead of 2018 electionsROME (Reuters) - Italy s government approved on Monday a low-key 2018 budget which includes measures to raise youth employment, tackle poverty and encourage investments ahead of an election in the spring.  The financial package aims to lower the budget deficit to 1.6 percent of gross domestic product (GDP) from a targeted 2.1 percent this year, while avoiding painful pre-election belt-tightening measures. Prime Minister Paolo Gentiloni s task has been made easier by stronger-than-expected economic growth and low interest rates which reduce the cost of servicing Italy s huge public debt   the highest in the euro zone after Greece s.      The budget certifies that the Italian economy is at a turning point and it contains resources aimed to reinforce the turnaround,  Economy Minister Pier Carlo Padoan told reporters. The package will now be sent to the European Commission for review and at the same time begin its passage through parliament, where it must be approved by the end of the year. It is likely to be one of the last pieces of legislation passed by parliament before the president dissolves the upper and lower houses and calls the election. Last month the government increased its GDP growth forecast for this year to 1.5 percent from 1.1 percent, and hiked next year s outlook to 1.5 percent from 1.0 percent. The debt-to-GDP ratio is targeted to edge down in 2018 to 130.0 percent from a targeted 131.6 percent this year. Overall, the budget is expansionary because, according to the Treasury s estimates, if current policies had been left unchanged the deficit would have fallen to 1.0 percent of GDP next year rather than 1.6 percent. However, Italy is constrained by its massive debt which precluded a give-away pre-election package. Most of the resources available were used to avoid increases in sales tax which had been previously pencilled in for next year. Padoan said the measures  might seem modest,  but were  well targeted,  while Gentiloni, in typically understated tones, called it  a slim budget that will be useful for our economy.  The European Commission is expected to sign off on the package even though Italy hiked the deficit target previously agreed with Brussels, as it has done repeatedly in recent years. Public finance disputes with Brussels may intensify after  next year s election. All the main parties say they will raise the budget deficit rather than reduce it as the European Union s fiscal rules prescribe. In an effort to tackle a youth unemployment rate of almost 40 percent, the budget offers a 3-year reduction in the pension contributions of companies that hire people under the age of 35 on regular, open-ended contracts. It also offers tax breaks for firms that invest in new machinery, increases income support for the poor, and sets aside funds to raise public salaries for the first time in almost a decade and hire 1,500 university researchers, Padoan said. Extra revenue for the state will come from a partial amnesty for people who settle tax disputes with the authorities by paying a discounted sum. Gentiloni appealed to parliament to show a  sense of responsibility  in approving the budget, after a leftist group last week said he could no longer count on its support following a political row over a new electoral law. However, a majority is likely to be found to back the budget to clear the way for elections now widely expected in March.  worldnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: italy presents budget ahead electionsrome reuters italy government approved monday budget includes measures raise youth employment tackle poverty encourage investments ahead election spring the financial package aims lower budget deficit percent gross domestic product gdp targeted percent year avoiding painful measures prime minister paolo gentiloni task made easier economic growth low interest rates reduce cost servicing italy huge public debt highest euro zone greece the budget certified italian economy turning point contains resources aimed reinforce turnaround economy minister pier carlo pardon told reporters the package sent european commission review time begin passage parliament must approved end year it likely one last pieces legislation passed parliament president dissolves upper lower houses calls election last month government increased gdp growth forecast year percent percent hired next year outlook percent percent the ratio targeted edge percent targeted percent year overall budget expansionary according treasury estimates current policies left unchanged deficit would fallen percent gdp next year rather percent however italy constrained massive debt precluded package most resources available used avoid increases sales tax previously penciller next year pardon said measures might seem modest well targeted gentiloni typically understated tones called slim budget useful economy the european commission expected sign package even though italy hired deficit target previously agreed brussels done repeatedly recent years public finance disputes brussels may intensify next year election all main parties say raise budget deficit rather reduce european union fiscal rules prescribe in effort tackle youth unemployment rate almost percent budget offers reduction pension contributions companies hire people age regular contracts it also offers tax breaks firms invest new machinery increases income support poor sets aside funds raise public salaries first time almost decade hire university researchers pardon said extra revenue state come partial amnesty people settle tax disputes authorities paying discounted sum gentiloni appealed parliament show sense responsibility approving budget leftist group last week said could longer count support following political row new electoral law however majority likely found back budget clear way elections widely expected march worldnews