Italy Backs Draghi’s Plan to Boost Competition in Key Markets
(Bloomberg) -- The Italian government on Thursday approved a bill that aims to boost competition in key sectors, a cornerstone of Prime Minister Mario Draghi’s plan to streamline the country’s sluggish bureaucracy.
“We are starting a project of transparency,” Draghi said during the cabinet meeting.
The so-called Competition Decree seeks to reorganize waste management, public transportation, energy and telecoms, with new regulations making it easier to appoint some civil servants. The process of installing high-speed fiber optic infrastructure, a key investment area for the government, will be simplified.
Draghi said the government is “mapping” all concessions, including those for beaches, mineral and thermal waters.
Since taking office last February, the premier has introduced new rules to revamp a sluggish judiciary, tax system and labor market.
Italy committed to the reforms to receive the lion’s share of European Union recovery funds -- almost 200 billion euros ($231 billion) which it will be able to invest in 2026.
“Today’s measures fulfill all the commitments we have made,” Draghi said.
The changes backed by the government are designed to reinforce Italy’s economic rebound from its worst economic crisis since World War II. Draghi said earlier he expects the economy to grow more than 6% this year, after a 8.9% contraction in 2020.
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