Recovery Plan’s impact may surpass 3% of GDP – Franco

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(ANSA) – ROME, MAR 8 – Economy Minister Daniele Franco said
Monday that Italy’s COVID-19 National Plan for Recovery and
Resilience (PNRR) could boost the economy by more than 3% of GDP
a year.
    He told a joint session of parliament’s budget, finance and EU
policies committees that the simulations that say the plan would
deliver an additional 3% of GDP for several years “did not take
account of the possible effects of reforms.
    “If these are carried out, the economic impact could be higher,”
he said. Franco said the EU money for the PNRR “will be available” at the
end of the summer with a 13% pre-financing allocation.
    “It is a very important opportunity for our country,” Franco
said.
    “It makes it possible to address some structural problems with
significant means in a coordinated way”.
    Italy is set to get 191.5 billion euros in grants and
low-interest loans from the Next Generation EU programme he
said, lower than the figure of over 200 billion previously
given.
    “The Next Generation EU programme can contribute to growing our
development potential,” he said.
    “To do this the Italian plan must move along the guidelines
given by the European Commission – digitalization, ecological
transition and social inclusion”. (ANSA).
   

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