Rome (IP) – Italy's fragile economy has put thousands of construction companies on the brink of bankruptcy due to high inflation and rising costs in all kinds of production.

Iran PressEurope: Hundreds of managers, engineers, and workers of construction companies in Italy protested in the center of Rome on Tuesday, demanding the release of frozen government credits and bank facilities.

Organizers of protesters at the rally warned that more than 40,000 construction companies would be on the brink of bankruptcy if the Italian government did not authorize the payment of nearly 10 billion Euros in frozen construction credit facilities.

Last year, the Italian government allocated significant credits intending to create job opportunities in the construction and maintenance sector, as well as in order to reduce and optimize energy consumption in residential buildings, but then cut it due to lack of funds and misuse of credit resources.

Two employees of an Italian construction company told an Iran Press reporter in Rome at the scene of the demonstration that construction companies have been facing significant financial problems since months ago due to a lack of access to housing loans.

These protesters stated that some construction companies are no longer able to pay their employees while on the verge of celebrating Christmas and New Year.

The economic situation of European countries is facing a crisis on the eve of the New Year and Christmas due to the energy crisis and the increase in the price of essential goods, and today the capital of European countries is the scene of anti-government demonstrations.

On Monday, thousands of Italians held protests against the high cost of living and energy prices across Italy.


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