Italy to reveal how it’ll spend €209bn of EU coronavirus recovery cash

When EU leaders agreed back in July on a €750 billion fund to support the bloc’s economic recovery from coronavirus, Italy obtained the largest share.

But before it gives any money to Rome, Brussels wants to know how the country’s proposing to spend it.

Italy will today present a plan it intends to submit to the European Commission.

Speaking to Good Morning Europe, Euronews’ Elena Cavallone explained what Italy is likely to do with its €209 billion.

“We already know that the government intends to focus on six priorities – decarbonisation of the economy, digitalisation, healthcare, education, infrastructure, and social cohesion.”

Italy’s prime minister, Giuseppe Conte, said he doesn’t want to waste a “single euro”. But there are, however, some “crucial reforms” Italy needs to get underway to make sure it achieves its economic growth goals, added Cavallone. They involve Italy’s public administration, tax system and labour market.

Italy will send its draft proposal to Brussels by October 15, while the deadline to present the final plan is set for January 2021.

It will be then up to the EU Commission to say whether it matches its expectations or not.

Watch Elena Cavallone on Good Morning Europe in the player above.

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