Italy on Monday approved a new stimulus package worth 14 billion euros ($14.71 billion) to shield firms and families from the economic impact of the war in Ukraine, Prime Minister Mario Draghi said.
The measures will not push up the country’s budget deficit this year and will partly be financed by increasing a windfall tax on energy companies, Draghi told reporters after cabinet approved the government decree.
Italy’s government also plans to set aside 925 million euros ($971.25 million) this year to participate in capital injections in state owned companies, a draft decree seen by Reuters showed on Monday.
The 925-million euro figure comes on top of 1.5 billion euros which Rome originally earmarked in 2020 to lure a buyer for state-owned Monte dei Paschi di Siena (MPS) BMPS.MI. That was never used and MPS remains in state hands.
The draft says the government can use the additional funds to support programmes to strengthen companies subject to state control, without detailing.
via Reuters
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