Press TV, Rome
A report has found that an increasing number of Italians are struggling to cope with the financial impact of the COVID19. Many are struggling even to pay their rent.
A new report on household debt by the Bank of Italy has highlighted that some 40% of Italian households are struggling to pay the rent amid economic difficulties linked to the effects of the coronavirus pandemic. According to the report a large number of indebted families – three out of ten -and individuals - four out of ten - have said they are having trouble keeping up the payment of their rents or mortgage installments.
Not long ago the national bureau of statistics ISTAT warned that some 5.6 million people were recorded as living in absolute poverty in Italy in 2020, an increase of about one million over the previous year. About 300,000 small and midsize firms that are especially vulnerable to the business disruptions inflicted by the pandemic have gone bankrupt.
Italy was in dire financial straits before the COVID-19 pandemic struck. It was the only G7 country not to have seen its economic growth return to pre-2007 levels after the global financial crisis, and its per capita income is the same as twenty-three years ago.
Meanwhile a solidarity initiative to support poor families hit by the pandemic has been officially launched by the national farmers association Coldiretti. At least 20,000 households struggling in the middle of the pandemic will be receiving high-quality food products to ensure good meals during Easter festivities.