Italy adopts billion-euro package to fight inflation

Mario Draghi

The Prime Minister of Italy wants to fight inflation in his country.

(Photo: dpa)

Rome The Italian government on Monday passed a multi-billion dollar package of measures to cushion the negative impact of inflation and high energy prices on businesses and families. The package has a total volume of 14 billion euros, as announced by Prime Minister Mario Draghi.

The measures are to be financed in part by taxes on extra profits from energy companies. Italy has already decided on a price discount on petrol and diesel. Because of the war in Ukraine, food prices have increased significantly worldwide.

The Italian economy shrank by 0.2 percent in the first quarter of 2022 compared to the three months before. The reasons are the burdens caused by the coronavirus pandemic and the high prices for raw materials, a consequence of the war in Ukraine.

More: Prices keep going up. But if all players – especially the European Central Bank and the federal government – ​​remain disciplined, this can change.

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