BREAKING NEWS

Italy to ramp up spending on coronavirus, further restrictions possible

By REUTERS

MARCH 11, 2020 12:28

ROME - Italy will ramp up spending to help the economy cope with the impact of the coronavirus, earmarking 25 billion euros ($28.3 billion) to tackle the growing crisis, Prime Minister Giuseppe Conte said on Wednesday.

Last week the cabinet said it would need just 7.5 billion euros, but since then the emergency has escalated dramatically and the entire nation is under lockdown, freezing much economic activity in a nation that was already flirting with recession.

Conte warned that already tough restrictions on movement might be tightened further after the northern region of Lombardy asked for all shops to shut and public transport to close.

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