Italy comes with a stimulus package of 25 billion euros

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Italy was the first European country to be hit by the pandemic, and a lockdown lasting more than two months dealt a heavy blow to the economy. The package approved by the government contains more than a hundred measures, ranging from tax payments in installments over a period of two years to guidelines for dismissals.

“We protect jobs, we support workers, we lower the tax burden, we help the regions,” Prime Minister Giuseppe Conte told a press conference after a cabinet meeting.

Difference between north and south

Under the plan, there will be greater tax breaks for Italy’s southern regions, which are much less developed than the industrial north. “We are aware of the lack of infrastructure in the South. We want to bridge this gap,” added Conte.

The plan, which also calls for cruise ships to resume voyages from August 15 and have trade fairs to take place from September, has yet to be approved by parliament.

Extra money for healthcare workers

There is provision for monthly emergency payments to vulnerable families, ranging from EUR 400 to EUR 800, to be renewed. An amount of EUR 500 million is earmarked for overtime payments for health workers.

Conte also said social distancing and face masks will be mandatory until Sept. 7, adding, “These are the minimum rules.”

In Italy, nearly 250,000 people have been infected since the coronavirus outbreak. More than 35,000 inhabitants have died as a result of this.

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