Italy will not change the reform timeline necessary to access almost EUR200 billion in European Union funding. This was made public by Paolo Gentiloni, European Economics Commissioner.
The new government of Prime Minister Giorgia maloni must meet 25 additional targets by the end of the year in order to receive funding for its next tranche of post-COVID recovery and resilience plan (PNRR).
It is possible that the government elected in October will not keep its promises, and that Italy could lose some of the investment.
Gentiloni said he was positive about the PNRR, and he also stated this to Rai 3 television.
Gentiloni, an ex prime minister from Italy said that “At the moment, the government will promise to respect the timeline.”
Gentiloni said that Italy and other EU countries had the opportunity to revise some details of their investment plans within the first month of next year. However, he cautioned them not to use inflation as an excuse for rewriting the programme or backsliding on actual reforms.
He mentioned as an example the target for building student accommodation in Italy. This is one area where the EU could be flexible.
He stated that funding was an opportunity to modernize Italy. It shouldn’t be viewed as a burden due to targets or timetables.
He said that Italy now has the potential to recover from 20 years of low growth.
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