Published by Global Banking & Finance Review®
Posted on February 28, 2025
1 min readLast updated: January 25, 2026
Add as preferred source on GoogleItaly approves a €3 billion aid package to help families and businesses with energy costs, aiming to boost the economy without increasing debt.
ROME (Reuters) - Italy approved a set of measures on Friday worth roughly 3 billion euros ($3.12 billion) to help families and business cope with energy costs, Economy Minister Giancarlo Giorgetti said on Friday.
Italy's government introduced tax cuts in its 2025 budget to increase the purchasing power of low and middle-income earners as it strives to boost its economy.
Concerned the impact of the cuts will be blunted by high energy costs, it made a budgetary provision, approved on Friday, of 1.6 billion euros to support families and an additional 1.2 billion euros for small and medium-sized companies.
"The resources come from the budget so as to avoid the need for higher debt and deficit," Giorgetti said.
Italy has pledged to bring its budget deficit below the European Union's 3% of GDP ceiling in 2026 from 3.8% targeted in 2024, limiting its scope to support the economy.
($1 = 0.9604 euros)
(Reporting by Giuseppe Fonte; editing by Barbara Lewis)
Italy approved a set of measures worth roughly 3 billion euros ($3.12 billion) to help families and businesses cope with energy costs.
The budgetary provision includes 1.6 billion euros specifically aimed at supporting families facing high energy costs.
Italy has pledged to bring its budget deficit below the European Union's 3% of GDP ceiling by 2026, down from 3.8% targeted in 2024.
Italy's government introduced tax cuts in its 2025 budget to increase the purchasing power of low and middle-income earners.
The resources for the aid package come from the budget, allowing the government to avoid the need for higher debt and deficit.
Explore more articles in the Headlines category
