The Italian government said today it will reduce its massive debt by raising around €10 billion by selling off three state companies.
It will also set up a property fund into which "all public buildings" will be placed to be "valued and sold" to private investors, it said.
The government said it was adopting a series of growth-boosting measures including privatisation projects, as the country comes back into the line of fire in the euro zone debt crisis.
Italian Prime Minister Mario Monti told a press conference that the measures were "very robust", but did not provide specific figures or details on the public assets to be sold off.
The draft law adopted by the cabinet includes measures to boost the construction sector and the creation of a fund which will draw together financial aid packages for businesses.
Economic development minister Corrado Passera said the fund "for sustainable growth" would have a budget of €2 billion.
Among other measures, the government will raise tax deductions on renovation works to help the struggling building trade, provide tax credits to help qualified young people get a job and create positions in the green economy.
