The European Commission postponed a month’s payment of 19.5 billion euros, which should go to Italy to finance Pnrr. The government of Giorgia Meloni had requested payment last December as the third tranche of funding envisioned in the plan, but Brussels ran into a series of problems with the implementation of the three measures that were “subject to further consideration”. According to the announcement by Palazzo Chigi, the decision to postpone the installment was taken by mutual agreement. But against the background of this delay, fears are beginning to build up about the greater challenges the Italian public administration faces in implementing Pnrr. In other words, Italy is unable to spend the huge spoils of subsidies and loans allocated by the EU.
At the moment, the lights of Brussels are on three measures that should be implemented by 2022: rules regarding airport concessions, district heating networks and two projects under Integrated City Plans: this is the redevelopment and creation of the stadium in Florence Bosco dello Sport’ in Venice. tan. The government now has one month to respond to the Commission’s findings and receive the allocation of the third tranche. But even if he manages to get out of the current stalemate, Meloni and his ministers will not have time to hold their breath: the timeline allows Italy to reach 20. turning point and 7 targets by the end of June to reach the fourth tranche of 16 billion. It should not be forgotten that, as reminded in today’s report of the Court of Accounts, it is estimated that the peak of expenditures for Italy will be between 2024 and 2025 and 45 billion will be used.
A flood of investments that are already burdened by worrying delays. The Court of Accounts estimates that we have so far actually spent 13 percent of available resources, just under half of what we could invest. The government is in talks with Brussels to shift some spending from 2026 to 2029. However, this may not be enough. “The delays in the National Reform Plan are insurmountable and not even due to the incompetence of governments – an Italian minister told La Stampa – It is the system that cannot absorb so much investment. If I were Giorgia, Meloni, I would hold a press conference, announce that Italy has failed and from Europe I’d like to either extend the deadlines or cut the funds in half. Maybe we could use one of the planned 209 hundred,” he concludes.
Source: Today IT
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
