Italy’s delay in securing loans and grants from the European Union’s post-COVID fund is “clearly a problem,” Economy Minister Giancarlo Giorgetti said on Tuesday, amid rising challenges for the country’s public finances.
The government is managing the situation for the moment, Giorgetti said, confirming plans to keep the budget deficit on a downward trend despite a disappointing start to this year.
Italy is due to receive 191.5 billion euros ($210.76 billion) in grants and cheap loans through 2026 from the EU Recovery and Resilience Facility (RRF).But the government is falling behind schedule in terms of spending the cash it has already received and in meeting designated “targets and milestones” that trigger the release of fresh payments.
Rome is still awaiting a third tranche worth 19 billion euros which is related to dozens of goals that were supposed to be reached in the second half of 2022, including the creation of 7,500 sleeping accommodation units for students.”I hope that these resources will be disbursed, if EU funds do not come it is clearly a problem,” the minister said.
via Reuters
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