Italy spent 47.5% of available EU funding, report says
Spending 4 points higher than national target04 November, 19:20
The certified spending report Italy submitted to the European Commission in Brussels on October 31 showed spending was four points higher than the national target, and slightly higher than spending as of May 31.
''This improvement, while not particularly significant, is in line with Italy's previous spending reports. Additional measures to increase the performance of Italian programs were taken in April'', the DPS said in a note. As in the past, ''important differences remain between North and South (and within the two areas). More developed regions spent 58.1% of EU funds while the less developed ones spent 43.1%. However, significant long-range infrastructural projects are underway in the latter, which will require longer periods of time to show up on the bottom line''.
The EU will automatically disinvest from any projects that have not met its targets by December 31.
''The DPS is actively intervening in support of all local administrations who may need help in avoiding a loss of resources'', said Minister of Territorial Cohesion Carlo Trigilia.