Italy announces 9.1b euro aid package to counter soaring energy prices

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The Italian government on Friday unveiled a 9.1-billion-euro (9.4-billion-U.S. dollar) package aimed at helping businesses and struggling families deal with skyrocketing energy costs.

Announcing the plan, Italian Prime Minister Giorgia Meloni said it would provide an “immediate response” to needs created by higher energy bills. According to provisional data from Italy’s National Statistics Institute (ISTAT), energy costs in the country in October were 73.2 percent higher than a year earlier.

Global energy prices began climbing in February, after the start of the conflict between Russia and Ukraine. Russia has since cut off most of its supply of natural gas to European Union member states.— Xinhua

 

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