{"id":149454,"date":"2020-05-14T05:20:17","date_gmt":"2020-05-14T05:20:17","guid":{"rendered":"https:\/\/www.bnreport.com\/italy-adopts-e55b-coronavirus-economic-package\/"},"modified":"2020-05-14T05:20:17","modified_gmt":"2020-05-14T05:20:17","slug":"italy-adopts-e55b-coronavirus-economic-package","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/italy-adopts-e55b-coronavirus-economic-package\/","title":{"rendered":"Italy adopts \u20ac55B coronavirus economic package"},"content":{"rendered":"

Italian Prime Minister Giuseppe Conte on Wednesday presented<\/a> a new package of measures worth \u20ac55 billion to tackle the economic impact of the coronavirus pandemic.<\/p>\n

\u201cWe worked on this decree with the awareness of the difficulties that the country is facing,\u201d Conte said at a press conference.<\/p>\n

The new decree temporarily freezes corporate tax for all companies with an annual turnover below \u20ac250 million and grants non-repayable aid of up to \u20ac40,000 to small businesses.<\/p>\n

The package also allows the government to intervene and recapitalize struggling companies in line with new<\/a> EU state aid rules allowing public capital injections.<\/p>\n

\u201cThe tools that we are introducing have been defined by the new European framework and are being adopted in all countries,\u201d said Finance Minister Roberto Gualtieri, adding that Italy was among the first countries to make use of the new EU rules.<\/p>\n

Gualtieri also stressed the need to level the existing imbalance<\/a> of state intervention across member countries with a European recovery fund.<\/p>\n

The government also earmarked \u20ac25.6 billion to extend existing unemployment benefits, more than \u20ac3 billion for the health care system, \u20ac1.4 billion for universities and research, and more than \u20ac1 billion for the agricultural sector.<\/p>\n

The decree also introduces a so-called \u201cemergency income\u201d of up to \u20ac800for low-income families.<\/p>\n

The new measures also include support for tourism, a sector that accounts for nearly 13 percent of Italian economy.<\/p>\n

Low-income families will receive a \u201choliday bonus\u201d of up to \u20ac500 to be spent on accommodation, while hotels and beach resorts will benefit from tax discounts.<\/p>\n

Gualtieri announced \u20ac2 billion in aid to help businesses which will have to adapt their activities to meet new social distancing requirements, particularly in the tourism sector.<\/p>\n

Italy will also grant residence permits to migrants<\/a> working in the agriculture and housekeeping sectors. While Read More \u2013 Source<\/a>
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politico<\/a><\/h5>\n

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Italian Prime Minister Giuseppe Conte on We..<\/p>\n","protected":false},"author":1,"featured_media":149455,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[],"class_list":["post-149454","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health"],"yoast_head":"\nItaly adopts \u20ac55B coronavirus economic package - Business News Report<\/title>\n<meta name=\"description\" content=\"Italian Prime Minister Giuseppe Conte on We..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/italy-adopts-e55b-coronavirus-economic-package\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Italy adopts \u20ac55B coronavirus economic package - 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