pandemic-and-public-aid:-italy-first-in-$-pa-–-rb

Pandemic and public aid: Italy first in $ pa – RB

Pandemic and public aid: Italy first in $ pa – RB

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Pandemic and public aid: Italy first in $ pa – RB

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Pandemic and public aid: Italy first in $ pa – RB

Every now and then good news and a record decidedly positive: the $pean record of public aid goes to Italy during the pandemic. The numbers of the “Map of State aid on bank loans developed by Fabi put it in black and white. In total , 311 billions of $, broken down as follows: approximately 60 billions of moratoriums still active, compared to 500. 000 suspensions granted, three million requests for loans presented, more than 220 billions of loans guaranteed by Mediocredito Centrale and 31 billions of those disbursed through SACE.

The numbers, updated to last January 6, also photograph the resilience of the Italian production system, induced by the parachute represented by measures introduced by the state starting from spring 2020, to resist the most acute economic crisis of the last 20 years, caused by Covid , and govern the uncertainty of the present.

Two years after the start of the pandemic, Fabi notes, “the balance sheet of guaranteed loans shows staggering figures because if the impact of the virus on the Italian economy was profound and extensive, the measures activated by the government were equally valid” , which “allowed the Italian companies to withstand the impact of the pandemic and to govern uncertainty”. Official statistics reported in the study by the banking union show that in the $pean panorama, “Italy – together with Spain – not only stands out for the percentage of recourse to loans backed by public guarantees (about 5% of the outstanding banking system ), but also boasts the primacy of the highest coverage ratio with a 85 % average compared to Spain and Germany (80%) and France (55%) “.

However, a picture emerges from the overall geography of the concessions ” once again at two speeds since more than 50% of the overall operations were presented in the regions with the largest number of companies and workers in the national territory and which, probably, were also affected to a greater extent by the crisis “.

The mapping of and 250 billions of aid says that the largest share went to the Northern regions (Piedmont, Lombardy, Veneto, Emilia-Romagna), followed by those of the Center such as Lazio, Tuscany, Abruzzo, Umbria and Marche. The fabric of Italian small and medium-sized enterprises, which is concentrated in Southern Italy, although it has instead received only the 18, 7% of total funding, is the one that boasts the primacy – after the first five of the North – for amounts up to 30. 000 EUR. However, it is still penalized in the category of loans for an amount greater than 30 thousand, where the South collects only 17, 6% of the total aid resources, compared to 52, 3% of the northern area of ​​Italy and of 24, 2% of the North Central district.

If the loans s were intended for all economic activities on the Italian territory, the most representative size class was that of loans for amounts greater than 30. 000 EUR which attracted almost 90% of the total resources used. The residual portion of 10% went instead in favor of transactions for an amount lower than 30. 000 EUR.