Deputy Economy Minister Laura Castelli indicated that the government will likely raise coronavirus support spending to EUR 5B. She added that it’s “necessary to raise the bar as much as possible, also considering the fact that Italy has registered a lower than expected deficit”.
Economy Minister has promised fiscal stimulus of EUR 3.6B, including tax break and other measures. But that seems insufficient since Italy is now the third country that’s most affected by coronavirus pandemic, with 3089 cases and 107 deaths. Measures could include supporting parents to stay home to take care of their children, increase in healthcare funding and temporary redundancy benefits.
It’s believed that the government is also considering to ask for a temporary suspension of EU’s European Stability and Growth Pact, which limits the country’s spending. Rome announced to close all schools and universities yesterday to control the spread of the Wuhan coronavirus.
