Italian government approves an economic package of 55 billion euro

Italian government approves an economic package of 55 billion euro

The Italian government has approved an economic package of 55 billion euros.  the state will pay 60 percent of the rent of the last three months to the traders. 3.25 billion euros have been allocated for the national medical system.

Rome: The Italian government has today approved a 55 billion euro (6 59.6 billion) economic package proposal. The package is meant to get the ailing economy back on track in the wake of the Coronavirus ‘Covid-19’. The proposal was made by Prime Minister Giuseppe Conte today.

He said it in a press conference after the cabinet meeting, “This financial package is equivalent to two budgets.” Mr. Conte said, “We understand that the country is eagerly awaiting this and I assure you it has always been a challenge for us because we had to act quickly.” The package was initially announced in late April but was delayed due to ongoing strains between allied parties. The Democratic Party (PD) and the Five Star Movement were busy gathering consensus on the schemes for unspecified migrant workers.

Italian Finance Minister Roberto Gualtieri has reported that the most important step in this economic package is to provide 25.6 billion euros for overpaying workers. Moreover, 600 to 1,000 euros for self-employment in the coming months. The impact of the Corona epidemic shall lead to the allocation of 5 billion euros for some small and medium enterprises.

According to the Prime Minister, the state will pay 60 percent of the rent of the last three months to the traders who are forced to remain closed during the lockdown. 3.25 billion euros have been allocated for the national medical system.

[Hams Live]

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