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| Posted: 25 July 2020 at 11:01 | IP Logged
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Italy Eyes $29 Billion in Extra Spending to Rescue
Economy
Italys government approved a proposal for 25 billion
euros ($29 billion) in extra spending as it battles to
rescue an economy devastated by the coronavirus pandemic,
the cabinet said in a statement.To get more news about
WikiFX, you can visit wikifx news official website.
A cabinet meeting Wednesday evening hosted by Prime
Minister Giuseppe Conte backed the demand to widen the
budget deficit this year, which will go to parliament for
approval. The extra money will be used to help businesses
with temporary layoffs and liquidity and provide
subsidies to local and regional authorities, the
government said.
Read More: EUs Rescue Gives Italy a Fillip Even If
Money Takes Longer
The government had already approved two stimulus
packages worth a total of 75 billion euros. Italy expects
to receive the biggest share of a 750 billion-euro
recovery fund approved by European Union leaders this
week.
 29/637290494704348914/ART637290494704348914_925480.jpg-
wikifx_articlepic">
Conte told the Senate in Rome on Wednesday that the
country will benefit from total funding of 209 billion
euros in grants and loans under the package.
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Topic: Italy Eyes $29 Billion in Extra Spending
