Bank of Italy voices concern about ‘uncoordinated rearmament’

(ANSA) – ROME, APR 17 – The Bank of Italy on Thursday expressed concern that the EU's ReArm Europe Plan/Readiness 2030 plan could lead to a waste of public money if the spending is not coordinated.
"A rearmament effort entrusted to individual countries without coordination could result in inefficient spending, as it cannot exploit possible economies of scale, and ineffective spending, due to the risk of both duplication and failure to fill existing gaps," Andrea Brandolini, the deputy head of the Bank of Italy's Department of Economics and Statistics, told a joint hearing of the Lower House and Senate budget committees on the government's economic blueprint, the public finance document (DFP).
"From the economic analysis point of view, defence investment and expenditure have the nature of a European public good; a coordinated programme financed by common resources would make it easier to achieve an appropriate level and composition of overall expenditure". (ANSA).
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