Italy approves new aid measures for families, firms

Cabinet led by Mario Draghi focused on helping residents, businesses face spike in energy, food prices

Giada Zampano  | 04.08.2022 - Update : 05.08.2022
Italy approves new aid measures for families, firms


Italy’s caretaker government headed by Mario Draghi approved a new aid package Thursday worth €14.3 billion ($14.5 billion) to help businesses and families cope with soaring costs of energy and basic goods.

The new package – in addition to €35 billion in aid measures already approved last month -- will probably be one of the last moves by the outgoing Cabinet ahead of early elections on Sept. 25.

The government focused on measures that will be able to reduce the effect on citizens and firms with the spike in electricity, gas and fuel prices that followed the start of the Ukrainian war in late February.

One of the key measures, worth about €5 billion, extends until the end of the year a cut in electricity and gas bills for low-income families.

The government also extended a €200 bonus, already paid in July to low-income citizens, to other workers who were not included in the first scheme.

A cut in excise duties on fuel at the gas pump was also extended to Sept. 20.

Draghi, who resigned last month after his national unity coalition collapsed, said at a news conference Thursday that forecasts on Italy’s economic growth are encouraging.

But he added: “There are some clouds in sight,” due to the energy crisis, rising inflation and a slowdown in the global economy.

“The support we are giving to families with these new measures is aimed at helping them cope with this phase of uncertainty,” he said.​​​​​​​

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