Italy to Extend Furlough Program by 18 Weeks, Draft Budget Shows
- Plan sees continuation of loan, mortage payment moratorium
- Government seeking 5 billion euros in extra funding for 2021
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Italy’s 2021 budget will focus on extending a furlough program for workers and a moratorium on loan and mortgage payments, as the government battles to restart an economy threatened by a resurgence of the coronavirus.
The administration of Prime Minister Giuseppe Conte is still looking for 5 billion euros ($5.9 billion) in extra funding to avoid overshooting its deficit target for 2021, according to a draft of budget documents seen by Bloomberg. The draft is subject to change amid ongoing government talks.