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Italy approves 14 bln euros of stimulus measures as growth outlook weakens

Italy approves 14 bln euros of stimulus measures as growth outlook weakens

May 3, 2022
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Italy approves 14 bln euros of stimulus measures as growth outlook weakens

by News Wires
May 3, 2022
in Business
Empty tables are seen outside a restaurant in Rome as the country tightens regulations in an effort to control rising COVID-19 infections, Rome on October 14, 2020.

Empty tables are seen outside a restaurant in Rome as the country tightens regulations in an effort to control rising COVID-19 infections, Rome on October 14, 2020.

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ROME – Italy 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 according to Reuters.

($1 = 0.9519 euros)

 

Tags: Budget DeficitBUSINESSItalyStimulus packageUKRAINE

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