Mario Draghi's government
"improves" Italy's prospects for an "effective use of the
European funds" aimed at helping the economy out of the COVID
recession and boosting growth, Moody's said Monday.
But long-term challenges remain, said the credit ratings agency.
Once the urgency linked to the pandemic eases, it said, the
government will likely be faced with "similar difficulties and
political opposition to some structural reforms which we have
observed with other governments in the past".
Draghi is aiming to cut stifling red tape and speed Italy's
snail-paced justice system, longstanding brakes on growth and
foreign investment, as well as reforming Italy's byzantine tax
system and launching a major programme for green, sustainable
development and digital innovation.
These are all areas where EU approval is needed to greenlight an
unprecedented amount of COVID recovery funding.
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