Print Magazine
Brussels Morning Newspaper
Wednesday, June 29, 2022
No Result
View All Result
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
No Result
View All Result
Home Europe

Economic effects of lockdown show in Milan’s food bank queues

Nikola Kiš by Nikola Kiš
16 December 2020
in Europe
Economic effects of lockdown show in Milan’s food bank queues
Share on FacebookShare on Twitter

Brussels (Brussels Morning) Food lines have been lengthening outside Milan’s food banks and help centres, an ominous sign in Italy’s financial capital of the economic devastation the coronavirus crisis is having on growing numbers of Italian citizens, Reuters reported Monday.

The first European country to be hit by the coronavirus, Italy has seen its already-troubled economy shrink considerably in the course of 2020. The Bank of Italy expects the GDP to drop 9% this year.

Even in the city known as the engine that drives the Italian economy, more and more citizens are being forced to ask for help as the latest wave of lockdowns toppled many who were barely  managing over the edge.

Official employment stable

The charity centre run by local aid group Pane Quotidiano has been open seven days a week, from 9 a.m. to 11 p.m., handling an average of 800 people per day. According to the group’s vice president Luigi Rossi, the numbers have gone up during this latest phase of the pandemic.

Milan is especially hard-hit because of the cancellation of the trade fairs, which, prior to the crisis, were such a significant contributor to the city’s economy. Despite the government imposed a firing freeze with support to businesses furloughing employees, this provided no relief to a significant segment, people employed without official contracts, working for cash payments, among them,  the home carers, cleaners, hospitality staff and many others.

Subsidised furloughs and the firing freeze have helped keep the official unemployment figures stable. While some 13,000 people lost their jobs in October, unemployment remained unchanged at 9.8%.

Worsening forecast

With the food lines growing in Milan, the Bank of Italy recently lowered its prediction for GDP growth in 2021 to 3.5%, significantly less than the 4.8% it forecast previously, indicating that the return to pre-corona levels could take years.

Meanwhile, economic experts are sceptical that the government will be able to leverage the use of the EU coronavirus relief funds. They claim that it remains questionable whether Italy will be able to draw upon all the available funds, and whether higher spending can fix the problem of low productivity rates.

Tags: FoodMain-SliderMilan

Latest post

Launch,of,the new European-Parliament,logo

Parliament groups strike compromise on EU carbon market reform

14 hours ago
Overturning Roe v. Wade Will Reveal Our Flawed Constitution

Abortion bans in the US:‘Europe cannot sit back and relax’

20 hours ago

Most Read

  • These are the 10 highest paying jobs in the Europe in 2022

    These are the 10 highest paying jobs in the Europe in 2022

    0 shares
    Share 0 Tweet 0
  • What Are The Highest Paying Jobs In Luxembourg?

    0 shares
    Share 0 Tweet 0
  • Energy Recovery Fund

    0 shares
    Share 0 Tweet 0
  • What Are The Highest Paying Jobs In Finland?

    0 shares
    Share 0 Tweet 0
  • A taste of Croatian flavors of the diplomacy in Brussels

    0 shares
    Share 0 Tweet 0
Facebook Twitter Youtube LinkedIn

About Us

Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

Category

  • Ambassador’s Corner
  • Belgium News
  • Brussels
  • Commission
  • Council
  • Culture and Society
  • Diplomacy
  • Economy
  • EU Institutions
  • Europe
  • Europe With Transparency
  • Features
  • In Depth
  • Member States
  • Middle East Eye
  • Opinion
  • Our pick
  • Parliament
  • Place de la Bourse
  • Southeast Europe
  • Sustainable Perspective
  • The American Angle
  • The Macro-Economist
  • Uncategorised
  • US Elections
  • World

More info

  • About Us
  • Advertising
  • Cookies Policy
  • Contact Us
  • FAQ
  • Jobs

Brussels Morning Newspaper - All Rights Reserved © 2020

No Result
View All Result
  • Home
  • About Us
  • EU Institutions
    • Parliament
    • Commission
    • Council
  • Europe
  • World
  • Member States
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Sustainable Perspective
    • The American Angle
    • Southeast Europe
  • Print Magazine

Brussels Morning Newspaper - All Rights Reserved © 2020

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT