Rome

Govt 'will find money' to stop unemployment budget drying up

Labour minister says CIG benefit to be revised

Govt 'will find money' to stop unemployment budget drying up

Rome, May 16 - Labour Minister Enrico Giovannini said Thursday that the government would soon find the money needed to stop the budget for CIG unemployment benefits running dry. The government needs to find around 1.5 billion euros to refinance the budget for a special type of CIG, which provides support for people who have been laid off or had their hours reduced by firms in financial trouble, or it will run out within months. Requests for CIG benefits have soared as Italy endures its longest recession in over 20 years. Premier Enrico Letta's left-right executive is set to discuss the issue at a cabinet meeting on Friday. "The government is assessing the resources that are available in the very short term to refinance the CIG," Giovannini told a question-time session in the Senate. "Then the benefit will be revised because you cannot refinance a tool without revising it".

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