Rome to present 55bn-euro aid package to prop up economy

 

May 9, 2020

The Italian Government on Saturday said it was set to present a 55billion euro package to support the country’s economy as it battles the coronavirus, a report in the Corriere della Sera newspaper said.

According to the report, Prime Minister Giuseppe Conte, who is reportedly working out the details, is to present the package within some days.

The 760-page draft include: funds for tourism, culture and agriculture sectors, which have been particularly badly hit by the crisis, money for healthcare system, short-time work and families.

Italy has reported a total of 217,185 coronavirus infections.

After Britain, Italy has seen the most deaths in Europe due to the virus.

The European Commission cautioned Italy to brace up for a severe economic downturn with Gross Domestic Product (GDP) set to plunge by nearly 10 per cent.(dpa/NAN)

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