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April 28, 2021

Potential Reforms for Growth: Economy Minister Daniele Franco supports the ambitious investment and innovation project of the National Recovery and Resilience Plan at a joint press conference with his counterparts from Germany, France and Spain. "Within the week - assures Franco - we will send it to the EU Commission".

Having obtained the go-ahead from the Chambers, Italy will send the PNRR to the EU Commission "by the end of this week". This was assured by the Minister of Economy in a joint message on their respective plans with the French Minister of Economy and Finance, Bruno Le Maire, the German Minister of Finance, Olaf Scholz, and the Spanish Minister of Economy and Enterprise, Nadia Calviño.  

"Only if we close the gender, generational and regional gaps, can we achieve robust and sustainable growth in the medium term". The minister stresses "inclusion is a general objective" of all the missions of the Plan. "It is developed along three main dimensions: gender equality, youth inclusion and reduction of regional disparities". In particular, 40% of resources are allocated to the South, to "bridge a gap that is still too large with the North".

One of the priority objectives of the Recovery plan is to "launch a substantial and irreversible ecological transition". Franco explains, reiterating that with the PNRR Italy aims to raise the share of energy produced from renewable sources to 72% by 2030. In addition to ensuring the green transition, the NGEU - added the minister in a message with Olaf Scholz, Bruno LeMaire and Nadia Calvino - wants to "repair the economic and social damage of the pandemic" and "build more dynamic, scientifically and technologically advanced economies that at the same time guarantee inclusivity". 

"No investment strategy can achieve its full potential unless it is complemented by ambitious structural reforms." For this reason, the NRP will include a public administration reform, "aimed at improving, digitizing and streamlining procedures and enhancing human capital"; a justice reform with the aim of reducing the length of trials, especially by 40% for civil ones, and a reform of public procurement with a series of regulatory simplifications. And he underlines how Italy has also committed to implementing an annual competition law "starting in 2021". "These reforms will allow for a timely and effective implementation of the investment projects of the Plan.They will also lay the foundations for stronger structural growth over a longer horizon. "