Institutional portal - Municipality of Milan

New resources from the administration surplus and from the devolution of mortgages. Tasca: “The possibility of maintaining a high level of investments also thanks to the excellent health of the 2019 accounts”

Milan, September 30 2020 - The change to the 2020-2022 budget has been approved by the council and is now being examined by the City Council. The measure, which provides for a strengthening of investments financed with savings from previous years and with new debt, was necessary in order not to delay the start of the projects planned for 2020.

“In the difficult financial situation for 2020, characterized by a decline in revenue due to the Covid-19 emergency, we have nevertheless managed to preserve suitable resources for non-deferrable investments. Most of them derive from the application of the 2019 administration surplus and the renegotiation of mortgages not used in previous years. Two opportunities that demonstrate the health of the Administration's accounts and the ability to contract debt to a lesser extent than what was reimbursed during 2020 - explains the Budget Councilor, Roberto Tasca.

In the capital account part, a greater allocation is foreseen for the year 2020 linked to the savings achieved thanks to the devolution of mortgages contracted in previous years. This is 36 million euros in addition to further long-term financing of 100 million euros in 2020 and 50 million in 2021, necessary to integrate the resources for the start of the investments to be financed in 2020.

The maneuver can also count on 248 million euros of 2019 administration surplus, bound to support investment expenses and interventions on the 2020 Three-Year Works Plan (PTO). Among the new features are new investments in school buildings for 16 million euros , the increase in extraordinary road maintenance for 34 million euros, the surface works of the M4 line for 26 million euros, the expansion of public lighting systems and cycling mobility.

A push to relaunch the city with a view to overcoming the economic crisis, but always respecting the budget constraints that do not allow imbalances between income and expenditure.