Italy to lift deficit by 0.35 pct points to tackle coronavirus

The Italian government plans to lift its 2020 budget deficit by around 0.35 percentage points of national output to help it tackle the growing coronavirus crisis, Economy Minister Roberto Gualtieri said on Thursday.

Gualtieri said Rome would ask the European Union for the go-ahead to hike the deficit goal, currently set at 2.2%, and added that the money would be used to support the hard-pressed health service and civil protection agency, while also helping families, workers, and firms.

"Nobody must lose their job because of coronavirus," he told a news conference following a cabinet meeting.