Italy’s deputy economy minister said Tuesday that the EU ought to leave Italy some wiggle room on its budget targets if the bloc’s third-largest economy succumbs to the coronavirus outbreak rippling across Italy’s industrial north.
“There are resources that the EU can give us in relation to economic events that could lower GDP considerably,” Deputy Economy Minister Laura Castelli said in an interview with RAI radio, adding “We hope we won’t need it.”
Italy’s GDP shrank by 0.3 percent in the fourth quarter of 2019. Its tourism industry, which accounts for 13 percent of the overall economy, is expected to suffer as COVID-19 takes hold
Via Politico
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