The Italian government is going to ask the parliament to approve 50 billion euros ($54 billion) in support for the economy weakened by the coronavirus pandemic, Italian Prime Minister Giuseppe Conte said Tuesday at the Senate
GENOA (Pakistan Point News / Sputnik - 21st April, 2020) The Italian government is going to ask the parliament to approve 50 billion Euros ($54 billion) in support for the economy weakened by the coronavirus pandemic, Italian Prime Minister Giuseppe Conte said Tuesday at the Senate.
"The recent [International Monetary Fund] IMF forecasts estimate a fall of the Italian GDP by 9.1 percent. Facing this scenario, we must further strengthen the economic response measures, therefore the government will soon send to the parliament a further report with a request for a deviation [of spending on stimulus measures] equal to a figure well above the one that was announced in March [25 billion euros]. It will be a figure of at least 50 billion euros, which will bring the overall intervention to at least 75 billion euros, taking into account the 25 billion euros asked before," Conte said.
Italy has registered 181,228 coronavirus cases so far, including 24,114 deaths and 48, 877 recoveries. To ease the pressure on the health care system and slow down the spread of the infection, the Italian government has introduced a lockdown, restricting travel and temporarily closing non-essential businesses.
