The decree of 8 April was published in the Official Gazette, which introduces measures to support businesses and liquidity estimated by the government at 400 billion. In particular, it provides guaranteed loans for businesses with access rules, amounts and limits.
The text of the decree it is divided into 44 articles and is seen with some criticism by the entrepreneurial world who consider it complex and not easy to use, in the course against time necessary to support the activity in the moment of greatest crisis. The data on industrial production, published by the Issata, indicate a drop of 2,4% on an annual basis but the real collapse is expected for the month of March when the closure of industries affected 48% of Italian industrial activities.
The decree contains measures on state guarantees for business credit, the postponement of some tax deadlines, the extension of the golden power rules and the further extension of civil and criminal proceedings from 15 April to 11 May. The decree also has effect on tax commissions, for the military judiciary and for the Court of Auditors. The rules do not apply to criminal proceedings whose terms expire in the six months following 11 May. For administrative processes, the extension is from 16 April to 3 May inclusive but with exclusive reference to the notification of appeals.
As far as businesses are concerned, Sace is preparing to activate the "Garanzia Italia", a new extraordinary tool to support Italian businesses in finding the liquidity and funding needed to deal with the Covid-19 emergency. The company itself communicated it. The work with the Task Force with the ABI is also at an advanced stage, as are the tables with the main banking institutions, to analyze and implement all the aspects envisaged by the Business Decree. For information on the initiative, you can also call the toll-free number 800020030.
Ready the circular Abi with operational indications to credit institutions. "We worked all night on the text of the decree, published in the Official Gazette after midnight, in order to be able to send the banks, already this morning" the "application circular of the decree on measures to provide liquidity to businesses", he declared the president of ABI Antonio Patuelli on Radio Anch'io underlining how in this way the banks, which have received many requests from customers in recent days, can "immediately have elements" to apply the rule which provides for public guarantees on bank loans to companies in difficulty. Abi, explains a press release from the association, with a circular letter signed by Patuelli and the director Abi Sabatini and circulated this morning to all members, immediately provided the banks with timely information on the decree law.
The circular illustrates the main provisions on which ABI draws the utmost attention and the immediate implementation commitment of the Associates, given the extreme necessity and urgency of giving immediate application by the banks.
