Economics
Italy Approves $4.9 Billion Package to Curb Energy Prices
- Measures financed by tax on extra profits of energy companies
- Italy already spent 16 billion euros on energy since July 2021
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Italy approved measures to shield companies and consumers from soaring energy prices.
The package is worth 4.4 billion euros ($4.9 billion), Prime Minister Mario Draghi said Friday, and won’t require widening Italy’s budget deficit. The measures will be financed mostly by taxing energy companies that made a windfall from higher power costs.