March 24, 2020 / 5:38 PM / 9 days ago

Italy govt to ask parliament to authorise new 2020 deficit hike

ROME, March 24 (Reuters) - Italy’s government will ask parliament in the first weeks of April to authorise a new hike in this year’s deficit levels, Economy Minister Roberto Gualtieri said on Tuesday.

Speaking to parliament, Gualtieri had said earlier that the Treasury forecast a major contraction in gross domestic product in the first half of this year.

The world’s deadliest coronavirus outbreak has ravaged the Italian economy by leading to a paralysis in business activity.

Reporting by Giuseppe Fonte, editing by Valentina Za

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