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Healthcare

Italy 2020 GDP to fall 6.5%, debt-to-GDP at 150% due to virus crisis - think tank

ROME, March 27 (Reuters) - Think tank Prometeia said on Friday it expected Italy’s gross domestic product (GDP) to fall by 6.5% in 2020 due to the impact of the coronavirus outbreak on the country’s output.

The Bologna-based institute said it also expected the debt of the euro zone’s third economy to rise to 150% of GDP at the end of the year.

Despite stringent lockdown measures introduced gradually since Feb. 23 to try to stop the spread, Italy’s coronavirus death toll rose to 8,215 on Thursday.

A government source told Reuters the Treasury was estimating GDP would fall more than 3% this year, in a highly uncertain scenario that was subject to downside risks.

Reporting by Giselda Vagnoni

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