Recovery Plan's impact may surpass 3% of GDP - Franco

(ANSA) - ROME, MAR 8 - Economy Minister Daniele Franco said Monday that Italy's COVID-19 National Plan for Recovery and Resilience (PNRR) could boost the economy by more than 3% of GDP a year.
    He told a joint session of parliament's budget, finance and EU policies committees that the simulations that say the plan would deliver an additional 3% of GDP for several years "did not take account of the possible effects of reforms.
    "If these are carried out, the economic impact could be higher," he said. Franco said the EU money for the PNRR "will be available" at the end of the summer with a 13% pre-financing allocation.
    "It is a very important opportunity for our country," Franco said.
    "It makes it possible to address some structural problems with significant means in a coordinated way".
    Italy is set to get 191.5 billion euros in grants and low-interest loans from the Next Generation EU programme he said, lower than the figure of over 200 billion previously given.
    "The Next Generation EU programme can contribute to growing our development potential," he said.
    "To do this the Italian plan must move along the guidelines given by the European Commission - digitalization, ecological transition and social inclusion". (ANSA).