Italy will suspend the payment of mortgages for the coronavirus

Italy will suspend the payment of mortgages for the coronavirus

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The Italian Government plans to carry out on Wednesday a decree with measures to support the economy against the impact of the coronavirus which will include the suspension of payment of some taxes and bills, as well as mortgage payments for families, as indicated by the Italian Vice Minister of Economy, Laura Castelli.

The decree that includes this stimulus package and that it will be approved tomorrow in Parliament, it will be applicable throughout the country, Castelli said in statements to the Italian radio station Radio Anch’io, collected by Europa Press.

“There will be an important fiscal part with the suspension of tax payments, withholding taxes … “, said Castelli, who when asked about whether this will imply a moratorium on the payment of mortgages, said that “everything will be suspended”, confirming that it will affect “mortgages of small businesses and families.”

7.5 billion to support the economy

Italy announced last week its intention to implement a plan to support the economy of 7.5 billion euros to mitigate the impact of the coronavirus, including spending measures that will exceed € 6.350 million in its budgetary commitment to Brussels.

In this regard, the European Commission has confirmed that extraordinary expenditure approved by the Italian Government to offset the economic impact of the coronavirus outbreak will be excluded from the deficit calculation structural, and therefore, will not be taken into account when the community authorities assess the fulfillment of the fiscal objectives of the transalpine country.


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