The Italian film industry got some mixed news Jan. 12, as Italy's Culture Ministry confirmed that a budget of 70 million euros ($92.8 million) has been earmarked to subsidize Italian film production t

ROME (The Hollywood Reporter) -- The Italian film industry got some mixed news Jan. 12, as Italy's Culture Ministry confirmed that a budget of 70 million euros ($92.8 million) has been earmarked to subsidize Italian film production this year.

The budget was announced by the director for production and distribution of cinematography, Francesco Ventura, from the office of Italian Culture Minister Giuliano Urbani.

Despite being nearly 17 million euros ($22.5 million) less than originally promised by Urbani, the budget is higher than recent predictions that it would be as little as 40 million euros ($53.1 million).

For months, a consortium of groups representing the Italian independent film industry, including producers organization Associazione Autori e Produttori, writers and directors organization L'associazione Autori Cinematografici and first-time directors group Gruppo 16/12, has been protesting proposed cuts to film subsidies.

The budget announcement coincides with the formal enactment of new legislation, which places stricter requirements on producers seeking government subsidies to make their films.