Italy organizes small package of pandemic aid without extra deficit

Italy organizes small package of pandemic aid without extra deficit

To fund those plans, Prime Minister Mario Draghi’s government is leaning toward relying on existing resources, currently estimated at around 2 billion euros ($2.3 billion), without asking parliament to authorize fresh borrowing, the people said.

Italy’s government is working at a spending package that will not need reexamining the budget to grow the shortage, individuals familiar with the matter said. The measures could be reported as soon as the next week and would carry targeted relief to sectors hit by the surge in Covid-19 infections, for example, the tourism, individuals said, asking not to be named examining confidential plans. The package will likewise be utilized to refinance furlough programs for laborers hit by the pandemic.

This would put Draghi at odds with the some of the parties of his fractious majority, which have been pushing for more spending. League leader Matteo Salvini on Wednesday called for a “sizable” expansion of the deficit to shield households from higher energy bills.

Measures to cushion poorer families from the impact of surging power prices, which can’t simply be covered by shifting existing resources, may be introduced at a later date, potentially after the election of a new Italian president.

La Stampa reported earlier this month that the extra spending — including support on energy — might amount to as much as 20 billion euros. Spokespeople for Draghi’s office and the finance ministry declined to comment.

Italy’s government is entering a delicate phase as lawmakers prepare to elect a new president from Jan. 24. Draghi himself is considered a leading candidate for the post, and this is seen as weakening his position vis-a-vis the parties backing his premiership.

Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
The most downloaded PlayStation games in 2021 have been announced by Sony
The most downloaded PlayStation games in 2021 have been announced by Sony
The PS5 chart in the US/Canada was topped by NBA 2K22, while FIFA 22 led the way in Europe. The most downloaded PS4 game in the US/Canada was Grand Theft ...
Indian Startups Raised $42 Billion in 2021
Maritime congestion is increasing in the world’s largest port
Those diversions are adding to the new wave of congestion facing China’s ports as an increasing number of cities deal with covid outbreaks. The strict ...
Ghana debt deepens at risk as investors lose patience
Ghana debt deepens at risk as investors lose patience
Its $27 billion of foreign debt had the worst start to the year among emerging markets, extending last year’s 14% loss, according to a Bloomberg index. As ...
Minister of Finance on antitrust alert in the sale of Citi in Mexico
Minister of Finance on antitrust alert in the sale of Citi in Mexico
“This isn’t the first time that an entity that wants to sell has to reduce some of their sales or adapt or adjust so that they remain within regulation,” ...
Molnupiravir is not included in COVID-19 treatment guidelines as its risks outweigh its benefits, according to the Ministry of Health.
Molnupiravir is not included in COVID-19 treatment guidelines as its risks outweigh its benefits, according to the Ministry of Health.
“We have had extensive discussion among national experts and we reviewed whatever data is available from the three trials. One (MOVe-In) trial was on 1433 ...
Horror Adventure Game ‘In Nightmare’ Eyes March Release for PS4, PS5
Horror Adventure Game ‘In Nightmare’ Eyes March Release for PS4, PS5
In Nightmare puts players in the shoes of a young boy experiencing effects of a broken family, and the heartache it brings. Escaping reality into a dark ...
Medical Matters welcomes Journaling for Health expert Lynda Monk |  community news
Medical Matters welcomes Journaling for Health expert Lynda Monk | community news
After the program, the video will be available on area public access television stations. On CAT-TV, viewers will find the show on channel 1075 at 7:30 ...
IEA deserts Russia over gas pressure hurting European economies
IEA deserts Russia over gas pressure hurting European economies
Russia could boost gas deliveries to the continent by at least a third from current levels, but it’s keeping spot sales capped despite high prices, IEA ...
DAYYYTONA! Gran Turismo 7 on PS5 and PS4 Brings Back the Iconic USA Speedway
DAYYYTONA! Gran Turismo 7 on PS5 and PS4 Brings Back the Iconic USA Speedway
Of course, for many gamers, the inclusion will conjure memories of SEGA’s classic arcade title – and its famous attract theme – Daytona USA. While we don’t ...
Quebec to lift COVID-19 curfew on Monday
Quebec to lift COVID-19 curfew on Monday
The 10 p.m. to 5 a.m. curfew was reimposed on Dec. 31 after having been used for almost five months between January and May 2021. Premier Francois Legault said ...
Show next
We will be happy to hear your thoughts

      Leave a reply

      Compsmag - Latest News In Tech and Business
      Logo