China News Service, April 28. According to Euronet, the European Union News Agency reported that on the 26th and 27th local time, the Italian Senate and House of Representatives voted to approve the recovery plan proposed by Italian Prime Minister Draghi to the Congress.
The plan is part of the "Next Generation EU Plan" with a total scale of 750 billion euros formulated by the European Commission in response to the epidemic crisis.
Draghi told members of the Senate and House of Representatives that after suffering from the devastation of the new crown epidemic, this plan is related to the future well-being of Italy.
Data map: Italy under the epidemic.
Young people will be the biggest beneficiaries
According to reports, the budget of Italy's recovery plan is 222.1 billion euros, of which 191.5 billion euros are EU funds.
Draghi said that the country's fate lies in this series of projects. This 336-page document will be submitted to the European Commission before April 30.
Draghi emphasized that young people will be the main beneficiaries of the recovery plan, and investment reforms in the field of digitalization and ecological transformation will mainly provide young people with employment opportunities.
The plan will also introduce state guarantees to help young people obtain loans for home purchases, so young people may no longer need to make advance payments when buying houses.
Draghi said that Italy is one of the countries most affected by the new crown epidemic in Europe.
The recovery plan is expected to boost GDP growth by 3.6% in 2026, and the employment rate from 2024 to 2026 can also increase by 3.2%.
Draghi pointed out that in the entire recovery plan, green projects accounted for about 40%, and digital projects accounted for 27%.
About 40% of the resources in the plan will be used for the development of the southern region.
At the same time, the plan also includes a series of major reforms, especially in the fields of public administration and justice.
The Senate and House of Representatives voted
On the afternoon of the 26th local time, the Italian House of Representatives voted on the recovery plan, and the plan was approved with 442 votes in favor, 19 votes against, and 51 abstentions. On the evening of the 27th, the Italian Senate voted again on the plan, with 224 votes in favor. With 16 votes against and 21 abstentions, the budget bill for the recovery plan was passed.
According to the report, after the recovery plan is passed, the government cabinet will give the green light to the recovery plan and submit the recovery plan proposal to the European Commission before April 30.
If the EU review goes well, the first funding will be released in July.
According to reports, a large amount of funding for the recovery plan will come from the European Union.
Until 2026, EU cash will be distributed to 27 member states.
Italy is the main recipient of EU funds and can obtain approximately 205 billion euros in low-cost loans and grants. In addition, Italy itself will borrow 30.6 billion euros. Draghi said that the recovery plan will bring new hope and future to Italy. (Huang Xin)