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Economics

Italy Sees Deficit Above 10% of Economy in 2020, Officials Say

  • Cabinet is due to approve economic and financial plan
  • Government set to seek permission to broaden budget deficit
Parasols stand outside closed restaurants in Milan.

Parasols stand outside closed restaurants in Milan.

Photographer: Francesca Volpi/Bloomberg

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Italy’s government expects the budget deficit to rise to more than 10% of economic output this year, as it struggles to cope with the impact of a nationwide lockdown, according to officials who declined to be named in line with policy.