Italy approves €14.3B program to fight inflation

A new program worth approximately €14.3 billion ($14.5 billion) has been approved by Italy on Thursday in order to shield businesses and individuals from rising energy and consumer goods prices.

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Italy approves €14.3B program to fight inflation © Daily Management Review

Prior to the scheduled national elections in September, the program was the most recent action taken by the administration of outgoing Prime Minister Mario Draghi. It was added to a €33 billion aid package that had already been allocated since January to lessen the impact of record-high electricity, gas, and oil prices.

Rome planned to extend current measures aimed at lowering electricity and gas bills for low-income families as well as eliminating so-called system charges until the fourth quarter of this year, according to a draft of the program obtained by Reuters reporters.

More than 20% of Italy’s energy tariffs were previously made up of these fees, which fund nuclear plant decommissioning, solar energy use, and other environmental initiatives. Additionally, the government will keep providing €200 euros to families with low incomes.

source: repubblica.it

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