Venice budget approved

Venice - The Operations Committee of the Port System Authority of the Northern Adriatic Sea, meeting under the presidency of Pino Musolino, approved the Authority’s budget for the 2018 financial year: overall revenues are estimated at €121 million, and substantial investments are planned for the Marghera area. As far as revenue is concerned, a positive trend in port and anchorage taxes is predicted for 2018, in line with 2017, as in revenues from State concession fees. In fact, over the course of the year, these items showed a very favourable trend, which is predicted to bring almost €42 million into the System Authority’s coffers during the next financial year. Further revenues are expected from the equalisation fund and VAT fund, from funds already allocated by the State under the 2016 Stability Law and from the Programme Agreement signed with MISE, both of which are earmarked for infrastructure in the former Montesyndial area, and for the expansion of the Porto Marghera infrastructure network, at a cost of €79 million.