April 28, 2020 / 11:10 AM / a month ago

Italy's EconMin says sustainability of country's public finances is not at risk

ROME, April 28 (Reuters) - Italy’s Economy Minister Roberto Gualtieri said on Tuesday that a new stimulus package, to be approved later this week and aimed at mitigating the effects of the coronavirus emergency, would not put at risk the sustainability of public finances.

The country has been one of the hardest hit by the COVID-19 pandemic, and the government expects the economy to contract by around 8% this year.

The new spending plan is scheduled to increase the country’s budget deficit by 55 billion euros ($59.85 billion), driving it to 10.4% in 2020, Gualtieri said speaking during a parliamentary hearing.

$1 = 0.9190 euros Reporting by Giuseppe Fonte, editing by Giulia Segreti

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