Italy agrees on new measures to speed up economic recovery

Rome, Oct. 28 (BNA) The Italian government has approved several new measures using coronavirus recovery funds to help its economy.

The government announced that the Cabinet headed by Prime Minister Mario Draghi approved on Wednesday evening measures for tourism, digitization and people with disabilities.

For tourism, ministers approved a 2.40 billion euro ($2.78 billion) package in the decree.

Among other things, the government wants to use the money to promote digitalization in the industry and support businesses, for example through subsidies to modernize residence or tax breaks.

Part of the decree is to help make 70 per cent of people in Italy “digitally fit” – most citizens should be able to complete some administrative formalities online.

Italy was the first European country to be hit hard by the coronavirus crisis, and it received about 191.5 billion euros in aid from the European Union to recover after the pandemic.

Besides national funds, Italy has about 222.1 billion euros to invest in specific areas according to a plan agreed with the European Union.

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