Italy’s government approved a much-delayed 55 billion-euro ($60 billion) stimulus package to rescue an economy crippled by a two-month nationwide lockdown, promising a boost in liquidity for businesses and aid for families in need.
Prime Minister Giuseppe Conte held a cabinet meeting on the new spending measures after tensions within the ruling coalition forced repeated postponements for what was originally dubbed the “April decree.” Conte announced the new measures in a news conference Wednesday night.
The new spending includes emergency income measures, extra funding for companies and tax cuts for some 4 billion euros. Non-reimbursable grants for small and medium-sized companies will also be available.
News Source: Livemint