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Investors - AUGUST 20, 2018

Italian government aims to break EU rule for infrastructure improvements

by Andrea Zander

The Italian government will launch a plan aimed at making its infrastructure safe, Giancarlo Giorgetti, Italy’s undersecretary in the prime minister’s office and a leading member of the league party, said in a press conference.

“We need a major plan of investments in public works,” said Giorgettui.

The plan will include motorways, bridges, and viaducts and public buildings.

Italian news outlet ANSA reported that, in an interview with Sky TG24, Giorgetti on Monday said he could not “rule out” the 2019 budget breaking the European Union’s 3 percent to GDP rule.

The statement comes after the collapse of the Morandi bridge in Genoa, which killed 43 people. Italian toll-road operator Autostrade per l’Italia, which managed the bridge, has set aside approximately €500 million ($572 million) to help the city recover from the disaster. The causes of the collapse remain subject to official investigation.

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