Better prospects of using EU funds with Draghi – Moody’s

(ANSA) – NEW YORK, FEB 15 – Mario Draghi’s government “improves” Italy’s prospects for an “effective use of the European funds” aimed at helping the economy out of the COVID recession and boosting growth, Moody’s said Monday.
    But long-term challenges remain, said the credit ratings agency.
    Once the urgency linked to the pandemic eases, it said, the government will likely be faced with “similar difficulties and political opposition to some structural reforms which we have observed with other governments in the past”.
    Draghi is aiming to cut stifling red tape and speed Italy’s snail-paced justice system, longstanding brakes on growth and foreign investment, as well as reforming Italy’s byzantine tax system and launching a major programme for green, sustainable development and digital innovation.
    These are all areas where EU approval is needed to greenlight an unprecedented amount of COVID recovery funding. (ANSA).


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