MNI BRIEF: Italy Confident Of Meeting Dec 31 NGEU Targets

Italy's deal with the European Commission to overhaul its plan for NextGenerationEU spending will make it easy for the country to meet reform and investment targets needed for the fifth payment tranche before the Dec 31 deadline, European Affairs Minister Raffaele Fitto told a news conference on Friday.

The dialogue between Rome and Brussels has been very successful and has allowed Italy to update the its plan to met needs emerging after the Russian invasion of Ukraine, Fitto said.

Under the deal, Italy will commit to seven more reforms, five of which will be linked to the green energy transition, and will transfer some NextGenEU funding to different projects to make use of the money available. (See MNI: EU To Allow Italy Some NGEU Spending After 2026-Officials)