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Italy set up 4 billion euro fund to compensate companies

Christian Fernsby ▼ | October 18, 2020
Italy has approved a new stimulus package in its 2021 budget to foster an economic rebound from the recession.
Italy street
Fund   Italy street
Among measures to support the health and education system, the government will set up a 4 billion euro ($4.7 billion) fund to compensate companies worst hit by coronavirus lockdowns.

Topics: Italy

The ruling coalition, led by the anti-establishment 5-Star Movement and centre-left PD party, agreed a preliminary version of the stimulus package, a government source said, leaving final details to be hammered out, Reuters reported.

The budget also extends temporary lay-off schemes for companies with workers on furlough and offers tax breaks to support employment in the poor south of the country.