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Italy to Approve New Aid to Ease Pain of Energy Price Hikes

  • New aid to be partly financed by extra income from fuel taxes
  • Premier Draghi also said a European gas price cap is needed
Mario Draghi
Mario Draghi

Photographer: Fabio Cimaglia/IPP/Bloomberg

Italy’s government is set to approve a new set of measures to cushion families and businesses from continuing increases in energy and fuel prices.

The new aid won’t require additional borrowing for the time being, Prime Minister Mario Draghi said during a press conference in Rome. The package is set to be approved at a cabinet meeting on Friday.