The European Commission noted on Wednesday delays in the implementation of Italy’s EU-funded recovery plan. “The implementation of Italy’s recovery plan is underway, but with a greater risk of delays,” the Commission stressed in its annual report in which it recommends the budgetary policies and economic reforms to be carried out.
Italy, one of the most indebted countries in the EU, is the first beneficiary of the European post-pandemic plan of 800,000 million euros NextGenerationEU. The country should receive 191.5 billion euros by 2026 (including 68.9 billion in grants and 122.6 billion in loans). But the payments are subject to the proper implementation of investments and reforms promised by the government, under the control of Brussels.
Renovation of a stadium in Florence, construction of a sports center in Venice
Italy has already received two payments totaling 42 billion euros. But the payment of a third tranche of 19,000 million has been frozen by the Commission, pending clarification on the allocation of funds and delays in the reforms. Talks are ongoing between Rome and Brussels. Rome is fighting to invest European money in priority projects like the green and digital transitions. Brussels was especially concerned about the allocation of European funds to the renovation of a stadium in Florence and the construction of a sports center in Venice, projects that will ultimately have to find financing other than that of the recovery plan.
Source: BFM TV
