This archive report was first published on 16 June 2020.
Italian Prime Minister Giuseppe Conte has emphasized the significance of the 172 billion euros allocated to Italy from the 750 billion euro EU recovery plan in addressing the country's longstanding structural problems and stimulating economic growth.
According to Conte, the funds will be instrumental in designing a better Italy, with a focus on a comprehensive investment plan that will make the country more modern, greener, and socially inclusive.
Italy, the first European country to be hit by the coronavirus pandemic, is reeling from the economic effects of a two-month lockdown imposed in March, which has resulted in nearly 34,500 deaths.
Conte has invited economists, academics, unions, and business associations, as well as EU leaders, to unite the country's strongest forces and compile ideas for Italy's economic rebound while removing structural and bureaucratic barriers.
Priority areas include the green economy, investment in research and training, the modernization of Italy's slow judicial processes, and more support for the key tourism, automobile, and food industries.
Conte is set to present a detailed plan for how the funds will be spent in Brussels in September, following a general assembly organized by him that began in Rome on Saturday and is due to continue until June 21.
