“This loss – is the warning – could lead to a cut in public services”
At the European level, the so-called “gap effect” for local authorities is worth 180 billion euros, equal to the sum of the higher expenses due to the pandemic (125 billion) and lost revenues (55 billion). All this, the president of the Committee, Apostolos Tzitzikostas warned, “could lead to cutting public services, unless more resources urgently arrive from EU and national funds to support local projects and programs”. The alarm would affect the whole of the Union.
If the coffers of the Italian administrations, which risk a hole of 23 billion euros, have lost about 9% of revenues, in relative terms the greatest losses were recorded in Cyprus (25%), Bulgaria and Germany (15%), while the lowest in Romania, Denmark, Greece, Hungary and Estonia (no more than 2%).
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