Italy may raise coronavirus support spending to 5 billion euros - deputy economy minister

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Italy's government is likely to increase to 5 billion euros (US$5.57 billion) the value of measures to help the economy withstand the largest ...

People train in a local park as gyms are closed as part of measures to try and contain a coronavirus outbreak, in Milan, Italy, March 4, 2020. REUTERS/Daniele MascoloROME: Italy's government is likely to increase to 5 billion euros the value of measures to help the economy withstand the largest outbreak of coronavirus in Europe, Deputy Economy Minister Laura Castelli said on Thursday .

"It is likely that the government will reach " Castelli said in an interview with daily Il Messaggero, adding that she thought it was"necessary to raise the bar as much as possible".Economy Minister Roberto Gualtieri has promised tax breaks and other measures for the affected sectors worth 3.6 billion euros. A government source told Reuters on Wednesday this may be raised to 4.5 billion, or 0.25 per cent of GDP.

Castelli added that Rome was considering asking for a temporary suspension of the European Stability and Growth Pact.

 

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