Economics
Italy Approves New Stimulus Package to Bolster Shrinking Economy
- Measures worth 8 billion euros to support hardest-hit sectors
- Output likely to contract 1.8% in final three months of 2020
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Italy’s government has approved a fourth stimulus package to support businesses hit by the latest restrictions to stem the spread of the coronavirus.
The package is worth 8 billion euros ($9.6 billion), according to a statement published Monday. It delays tax deadlines for companies and expands cash handouts for workers in tourism and the arts, which have been severely disrupted by the pandemic.