Italy to approve new deficit hike to help coronavirus-hit economy – Reuters UK

ROME (Reuters) – The Italian government approved 25 billion euros ($28.93 billion) of extra spending late on Wednesday, the third major cash injection to try to support its battered economy since the start of the country’s coronavirus outbreak. FILE PHOTO: A man rides his bicycle near a residential complex where more than 40 people tested…

Italy to approve new deficit hike to help coronavirus-hit economy – Reuters UK

ROME (Reuters) – The Italian government approved 25 billion euros ($28.93 billion) of extra spending late on Wednesday, the third major cash injection to try to support its battered economy since the start of the country’s coronavirus outbreak. FILE PHOTO: A man rides his bicycle near a residential complex where more than 40 people tested positive for the coronavirus disease (COVID-19), ahead of the leader of Italy’s far-right League party Matteo Salvini visit in Mondragone, Italy, June 29, 2020. REUTERS/Ciro de LucaThe new stimulus will involve additional borrowing and drive the 2020 budget deficit to 11.9% of national output, versus a goal of 10.4% set in April and a figure of 1.6% reported in 2019, the lowest in 12 years. Rome sees its public debt rising to 157.6% of G
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