Italy is making another financial effort to help itself

Italy is making another financial effort to help itself

With the increase in the number of sick people, and the closure of non-essential businesses, the amount of money Italy needs to survive is also on the rise. Since the situation became compl

With the increase in the number of sick people, and the closure of non-essential businesses, the amount of money Italy needs to survive is also on the rise.


Since the situation became complicated, Italy took measures to stop the spreading of the virus and also to slow-down the sinking of the economy.

Since March 16, Italy implemented drastic measures, and also released an emergency decree worth $28 Billion to support the economy. Among the stipulated rules are the: suspension of loans and mortgage payments for companies and families, increasing the funds used by the firms to pay the workers who are temporarily laid off.

“This is a weighty economic package. We never thought we could face this flood with mops and buckets,” Prime Minister Giuseppe Conte said.

This stimulus put Italy in an awkward position, since its economy it’s not one of the greatest performers, having already a 0.3% contraction in the last months of 2019. Analysts are predicting a fall in GDP for the first half of 2020.

Shops, restaurants, schools, and sporting events have been closed or canceled. Italians have been told to stay inside unless they have essential needs.

According to ilsole24ore.com, Italy might need to increase the stimulus amount with another €30 Billion. This money is said to be used to pay for welfare measures to help workers and citizens.

This new stimulus will be discussed today in Parliament.

Since the virus took over, Italy40 has lost over 41%. But since the U.S. Senate agreed on the stimulus bill, the index finished over 8% higher as the global markets start to recover.

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Sources: cnbc.com, forexlive.com, the guardian.com

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The information presented herein is prepared by CAPEX.com and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.

Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.