Italy
EU's Gentiloni says Italy on track to meet reform timetable
Italy will not abandon the reform timeline required to access nearly €200 billion of European Union funding. This was announced by European Economics Commissioner Paolo Gentiloni.
To receive funding for the next tranche of its post-COVID Recovery and Resilience plan (PNRR), the new government of Prime Minister Giorgia Maloni must achieve 25 more targets before the end of this year.
It is possible that the government, which was elected in October, will not fulfill its promises and that Italy may lose some of the investment.
Gentiloni stated that he was confident about the PNRR and said so to Rai 3 television.
Gentiloni, an ex-prime minister from Italy, said, "At this moment, the government will commit to respecting the timeline."
Gentiloni stated that there was room for Italy and other EU nations to revise certain details of their investment plans in the first months of next year, but cautioned them against using inflation as an excuse to rewrite the programme or backslide on actual reforms.
He mentioned the example of the targets for building student accommodation, in Italy, as an area where the EU could be flexible.
He said that funding was a unique opportunity to modernize Italy. It should not be seen as a burden because of targets or timetables.
He added that Italy is now in a position to shake up after 20 years of low growth.
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