Economics
Italy Sees Deficit at 10.4% as Conte Scrambles to Save Economy
- Virus effect to cause 8% contraction this year, officials say
- Government seeks approval of 55 billion-euro deficit extension
An intersection stands empty under lockdown, in Brescia, Italy.
Photographer: Gianmarco Maraviglia/BloombergThis article is for subscribers only.
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The Italian government of Giuseppe Conte is preparing for a wider deficit as it scrambles for resources to salvage an economy ravaged by weeks of stringent lockdown measures.