ROME — The prospect of subsequent hikes in interest rates by the European Central Bank is worrying for highly indebted countries like Italy, its economy minister said on Saturday.ted as a country for several years of a favorable situation, with interest rates close to or below zero, and this is now changing,” Economy Minister Giancarlo Giorgetti said speaking at an event in Rome.
As sky-high energy prices batter the economy, Italy earmarked around €21 billion in its 2023 budget, which is currently making its way through parliament, to help firms and families cope with electricity and gas bills in the first quarter of next year. He said this mechanism could enter into force next spring with the aim of encouraging energy savings.
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