Italy to approve some 10 bln euros in anti-coronavirus measures - minister

Italy's government will approve measures worth around 10 billion euros ($11.35 billion) to counteract the impact of the coronavirus outbreak, the industry minister said on Tuesday. Stefano Patuanelli told Radio Capital the measures would likely cause the budget deficit to rise to just under 3% of national output this year.

A government source told Reuters on Monday the Treasury was considering lifting the budget deficit to 2.8% of national output this year. It only announced last week that it planned to hike the deficit to 2.5% from a previous goal of 2.2%. Patuanelli said that the government would likely approve a first group of measures worth less than the targeted 10 billion euros and that more would then be added at a second stage.