The Italian Cabinet late on Friday approved a new aid package worth €25 billion to help families and workers amid the heavy economic fallout of the pandemic.
THREE EMERGENCY DECREES WERE APPROVED
The new stimulus measures are the third tranche of a government plan aimed at supporting Italy’s fragile economy brought to its knees by the strict lockdown imposed nationwide to stem the spread of coronavirus.
In total, the three emergency decrees approved by the Italian government since March released funding to the tune of €100 billion.
“The new decree aims at supporting workers, businesses, and local institutions,” Prime Minister Giuseppe Conte said at a press conference on Friday evening, detailing the new measures.
Firms that requested the state aid, however, will have to put on hold any layoff until the schemes are running.
The government also approved special measures to help struggling businesses and workers in the poorer southern regions, to fill the productive gap with the industrialized north of the country.