KONTAN.CO.ID - ROME. 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. The 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 GDP this year.
Italy approves new deficit hike to help coronavirus-hit economy
KONTAN.CO.ID - ROME. 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. The 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 GDP this year.