ROME: Italy will introduce this week measures worth 3.6 billion euros (US$3.5bil) to help the economy withstand the largest outbreak of coronavirus in Europe, Economy Minister Roberto Gualtieri said on Sunday (March 1).
newspaper, Gualtieri said this amounted to 0.2% of gross domestic product and would come on top of an aid-package worth 900 million euros that was unveiled on Friday for the worst-impacted areas.
Italy has registered more than 1,100 confirmed cases of coronavirus since the contagion came to light in wealthy northern regions on Feb. 20 and at least 29 people have died. While many countries in South-East Asia and China are managing to control the outbreak, Europe especially Italy are having their hands full in the fight against Covid-19.
Italy has the biggest debt pile in the euro zone after Greece, but Gualtieri said public finances were solid and predicted the 2019 budget deficit would come in at between 1.6%-1.7% of GDP against an original target of 2.2%.Italy had forecast a deficit of 2.2% for this year, based on the assumption the economy would grow 0.6% in 2020.
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