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Italian Government Approves €55 Billion Stimulus Package

Italian Prime Minister, Giuseppe Conte announced yesterday the approval of a €55 billion stimulus package to help struggling residents of Italy during this pandemic.

The aim of this stimulus package is to help individuals tackle the economic impact that they have experienced due to COVID-19 and help hard-hit businesses, families, students, and even the undocumented migrants in Italy.

Conte has stated that he is more than aware of Italy’s difficulties and hopes that with this offer of the stimulus package that Italy and recover socially and economically.

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The decree allocated; €25.6 billion to help employees and the self-employed; €3.2 billion will go towards the health care system; 1.4 billion to schools and universities; and the remaining €1.2 billion for Italy’s food and agricultural sector.

The package also includes incentives for the tourism and hospitality sectors as Italy is well known for it’s high tourism percentage, they want travelers to continue to still visit with incentives.

What are your thoughts on this stimulus package? Share your opinions down in the comments.

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Main Photo by Pixabay

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