Press "Enter" to skip to content

Italy to Show how it will spend $209bn of EU coronavirus Retrieval Money

When EU leaders consented in July on a $750 billion fund to encourage the bloc’s economic recovery in coronavirus, Italy obtained the greatest share.

But before it provides any money to Rome, Brussels would like to understand how the nation is proposing to invest it.

Italy will present a strategy on Wednesday that it plans to distribute to the European Commission.

We know that the government plans to concentrate on six priorities – decarbonization of this market, digitalization, health care, education, infrastructure, and social cohesion.”

Italy’s prime minister, Giuseppe Conte, stated he does not wish to squander a”solitary euro”. However, there are, nevertheless, some significant reforms Italy should get underway to be certain it accomplishes its economic development targets They demand Italy’s public management, taxation system, and labor market.

Italy will send its draft proposal to Brussels from October 15, while the deadline to present the last program is set for January 2021.

It’ll be then up into the EU Commission to state whether it matches its expectations or not.