In 2020, the Italian Government and Parliament introduced unprecedented measures, amounting to over € 108 billion in terms of net debt, in order to tackle the Covid-19 outbreak.
An action started with the “Cure Italy” Decree, an immediate response to the emergency, which strengthened the Italian health care system and supported companies, workers, and families. The Government intervention stepped during the unfolding of the crisis. The “Liquidity” Decree aimed to defend and protect the country's industrial framework, companies, entrepreneurs and workers.
In May, the Government intervened with the “Relaunch” Decree, the broadest reaching economic measure in Italy’s history: €55 billion, in terms of net debt, to support businesses, workers, families, Healthcare, Schools and Universities.
The effort continued with the “August” Decree, an additional €25 billion intervention aimed to healthcare and welfare, and with general and sector-specific measures to help the country recover.
Later, action was taken to ensure timely financial support for the sectors worst hit by the most recent restrictions. The four “Ristori” Decree introduced a wide range of measures, amounting to over € 18 billion, involving immediate and, to the extent possible, automatic payments. The main interventions include non-refundable grants, suspension of tax payments and social security contributions and new weeks of the ‘Cassa integrazione’ wage supplement scheme.