Italy lays out COVID-19 recovery plan
Attentive Italian Premier Mario Draghi is presenting a 222.1-billion-euro ($268.6 billion) coronavirus recovery plan to Parliament. Italy has the biggest share of the EU’s 750-billion-euro ($907 billion) recovery pot, with 191.5 billion euros ($231.6 billion) of its six-year plan financed by EU funds. The focus of the lengthy plan is primarily the digitization of many sectors of the national economy.
Particularly financials and areas heavy on bureaucracy. Another area of crucial importance. is the tourism industry which has felt the brunt of the COVID-18 related closures and limitations, it normally accounts 13% of Italy’s gross domestic product. The EU required that at least 37% of its funds be directed toward climate-related investments, part of the bloc’s aim for a cut of 55% of greenhouse gases by 2030 and carbon neutrality by 2050.To that end, Italy has redirected 40% of its own funds to climate friendly endeavors. The plan calls for some 31.4 billion euros ($37.9 billion) in transportation infrastructure improvements and extending high-speed rail primarily in the unserved and therefore more isolated south. Education and research are slated to receive a 31.9-billion-euro ($38.5 billion) investment. The main reason for this is to stem the decade-long brain drain the country has been suffering. The overwhelmed healthcare sector is also due to get, a desperately needed influx of cash and resources, to the tune of 18.5 billion euro ($22.3 billion) concentrating on preventive medicine and home care services as well as virtual consultations.
In short, the thorough attentiveness to the proper application of this major relief package by the EU, demonstrates the excellent planning skills of all regions involved even and especially that most hard hit.