The plan includes a number of measures aimed at reducing red tape, boosting public and private investment, and introducing digital incentives and instruments for business development.
Conte’s stimulus package also features measures that are designed to reform Italy’s fiscal and judicial systems, often seen as an impediment to a balanced growth of the country.
Opposition parties have attacked the government for not having been able so far to provide help to hundreds of thousands of workers who have been laid off during the COVID-19 emergency.
The Italian government employment policy agency, ANPAL, estimates that the COVID-19 crisis will lead to the loss of half a million jobs in the country this year and some 250,000 jobs in 2021. The agency warns that Italy will only return to its pre-pandemic employment level in 2023.
On Wednesday, the Italian media reported that Rome is to receive around 173 billion euros of the 750-billion-euro EU Recovery Fund for the COVID-19 emergency if Brussels’ plan is approved by the European Parliament. Some 81 billion euros will be granted as aid and about 91 billion as loans.
While Italian PM Conte has hailed the proposal, a number of so-called “frugal” states are rejecting the idea of cash handouts to relatively poorer EU member states.