The Italian government is ramping up spending plans 'significantly' to mitigate the economic impact of the coronavirus, the country's finance chief said, with the country's death toll now surpassing 12,000.
However, Roberto Gualtieri, the Italian economy minister, said that there will be new fiscal measures "significantly larger" than those originally announced.VERDUNO, CUNEO, ITALY - 2020/03/31: Medical workers wearing Personal Protective Equipment are pictured outside Verduno hospital .
The Italian health minister said Wednesday that the lockdown measures will be extended until April 13. Italy put forward a 25 billion euro fiscal package last month to support businesses. However, Roberto Gualtieri, the Italian economy and finance minister, told the newspaper Il Fatto Quotidiano Wednesday that there will be new fiscal measures "significantly larger" than those originally announced.
The idea, according to Gualtieri, is to support households and Italian companies for the entire duration of the pandemic.Giuseppe ConteHowever, any additional spending is challenging given Rome's exceptionally high government debt. The country's debt pile is the second largest in Europe, after Greece, which had three bailout programs over the last decade or so.
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