April 28, 2020 / 12:22 PM / in 2 months

Italy's economy minister says sustainability of country's public finances is not at risk

FILE PHOTO: Italy's Minister of Finance Roberto Gualtieri attends a one day Italo-Franco summit in Naples, Italy February 27, 2020. REUTERS/Ciro De Luca/File Photo

ROME (Reuters) - Italy’s Economy Minister Roberto Gualtieri said on Tuesday that a new stimulus package, to be approved later this week and aimed at mitigating the effects of the coronavirus emergency, would not put at risk the sustainability of public finances.

The country has been one of the hardest hit by the COVID-19 pandemic, and the government expects the economy to contract by around 8% this year.

The new spending plan is scheduled to increase the country’s budget deficit by 55 billion euros (47.89 billion pounds), driving it to 10.4% in 2020, Gualtieri said speaking during a parliamentary hearing.

Reporting by Giuseppe Fonte, editing by Giulia Segreti

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