Italy Shifts €4.6 Billion Earmarked for Auto Sector to Defense
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Italy plans to move about €4.6 billion ($5 billion) originally earmarked for its embattled auto industry toward a sector that currently has better prospects: defense.
A recent budget document had listed the funding for a project to shore up automotive supply chains in the country, but that support has now been removed, according to a statement from industry lobby Anfia. Instead, the funds will be channeled toward defense, Italian media including Il Sole 24 Ore reported.