Italy will soon be able to collect the expected 16.5 billion euros from the fourth payment installment of Pnrr. The European Commission actually expressed a positive opinion on the payment. The ball is now in the court of the Economic and Financial Committee, an advisory group consisting of representatives of Member States, the European Central Bank and the Commission.
reforms
The installment includes a mix of non-repayable grants and loans. The payment request was made by Italy at the end of September, based on the achievement of Pnrr’s target of 21 and target seven. “This is a set of transformative reforms in key policy areas such as criminal and civil justice, public employment, public procurement, aged care and long-term care,” Brussels writes. “For example, additional steps have been taken regarding the implementation of public administration and judicial reforms in the fields of law and criminal law, which will contribute to a simpler and more effective public administration and a more efficient judicial system, as well as having positive effects. The impact of a simplified and more efficient public procurement system on the business environment will happen”, the Commission continues. It also includes reforms aimed at simplifying administrative procedures for green investments. Finally, there is a reform that aims to improve the living conditions of elderly people who are not self-sufficient through easier access to health and social services.
Projects
The investments included in this payment request also cover a wide range of sectors, including energy efficiency of buildings, hydrogen infrastructure, child care, digital transition, sustainable mobility and social inclusion. These include, for example, installing charging infrastructure and expanding the regional public transport rail fleet with zero-emission trains. Also included are green hydrogen investments, such as testing hydrogen for road transport and rail mobility and producing hydrogen in brownfield areas. One of the investments relates to the digitalization of public administration by moving the data sets and applications of a large part of local public administration to a secure cloud infrastructure. There are investments to tackle educational poverty in the South, increasing the provision of nurseries and kindergartens and early childhood education and care services. This demand also includes investment to increase affordable housing opportunities for university students.
race against time
The government expects to receive payment of the fourth installment by the end of the year. The Commission forwarded its opinion to the Economic and Financial Committee, which will have four weeks to respond. At this point, if the response is positive, Brussels can continue paying.
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.
