Daily Management Review

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.

Pietro Naj-Oleari
Pietro Naj-Oleari
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