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.
Photographer: Francesca Volpi/BloombergThis article is for subscribers only.
Sign up here for our daily coronavirus newsletter on what you need to know, and subscribe to our Covid-19 podcast for the latest news and analysis.
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.