Italy’s Economy Minister Roberto Gualtieri said the forecasts of -6% GDP contraction this year are “realistic”. Though, he insisted the economy can “aim at a vigorous rebound” after the coronavirus pandemic.
Meanwhile, he said a new stimulus package is set to be approved this month. That would be “significantly larger” than the measures of EUR 25B passed in March. The package would include extensions of state-backed guarantees for businesses, unemployment benefits and low incomer support.
Gualtieri also reiterated the push for a coordinated, shared fiscal response within EU, rather than using the European Stability Mechanism. He added, “new solutions are need to grant parity of conditions and to define an adequate shared and responsible response.”