Holes in accounts of about 23 billion of Italian local authorities

At the European level, the so-called “gap effect” for local authorities is worth 180 billion euros, equivalent to the sum of high expenditures due to the pandemic (125 billion) and lost revenue (55 billion). All this, warned committee chairman, Apostolos Tsitzikostas, “could lead to cuts in public services, unless more resources from the EU and national funds come immediately to support local projects and programmes”. The alarm will affect the entire union.

If the treasury of the Italian administration, at risk of 23 billion euros, lost about 9% of revenue, the greatest losses in relative terms were recorded in Cyprus (25%), Bulgaria and Germany (15%), while Romania, Denmark , lowest (no more than 2%) in Greece, Hungary and Estonia.