The Bank of Italy on Thursday
expressed concern that the EU's ReArm Europe Plan/Readiness 2030
plan could lead to a waste of public money if the spending is
not coordinated.
"A rearmament effort entrusted to individual countries without
coordination could result in inefficient spending, as it cannot
exploit possible economies of scale, and ineffective spending,
due to the risk of both duplication and failure to fill existing
gaps," Andrea Brandolini, the deputy head of the Bank of Italy's
Department of Economics and Statistics, told a joint hearing of
the Lower House and Senate budget committees on the government's
economic blueprint, the public finance document (DFP).
"From the economic analysis point of view, defence investment
and expenditure have the nature of a European public good; a
coordinated programme financed by common resources would make it
easier to achieve an appropriate level and composition of
overall expenditure".
ALL RIGHTS RESERVED © Copyright ANSA
